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Three-Quarters Of Employers Believe Obamacare Will Raise Benefit Costs

January 5, 2011 by  

Three-quarters of employers believe Obamacare will raise benefit costsThe majority of employers in the United States expect that healthcare reform will increase their insurance costs, and nearly one in every four organizations is considering dropping employee benefits to reduce expenses.

A recent national survey conducted by the Midwest Business Group on Health questioned approximately 430 employers about the impact of the Patient Protection and Affordable Care Act, also known as Obamacare. About 74 percent of respondents said that provisions of the law will boost benefit costs, and 60 percent of employers said the healthcare overhaul is intended to eliminate employer-based system and move to a single-payer system.

Approximately 22 percent of employers admitted that they would consider dropping health benefits altogether. Of those who said they would drop coverage, only one in five said that they would raise employee salaries to help them purchase individual coverage.

According to CNN, GOP lawmakers aren't wasting any time in their efforts to repeal Obamacare. The news provider reported that Republican House members have scheduled a procedural vote to repeal the legislation on Jan. 7, just two days after beginning the new Congressional session.

"Obamacare is a job killer for businesses small and large, and the top priority for House Republicans is going to be to cut spending and grow the economy and jobs," Brad Dayspring, spokesman for incoming House Majority Leader Eric Cantor (R-Va.), told the media outlet.

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