Last month McKinsey and Company issued the results of a survey it had conducted of some 1300 employers concerning what they would do when Obamacare fully took effect in 2014. Overall 30% of employers said they would drop their group insurance, and, of those who claimed a high awareness of the terms of Obamacare, 50% said they would cancel their coverage.
Of course, McKinsey was villified by the Obamacare supporters, with democrats demanding that McKinsey immediately release all of the details of their survey. Although not required to do so, McKinsey complied, and, not surprisingly, no one in either the administration or Congress could find fault with either the survey, or the results.
Today, the results of a new survey conducted by the National Federation of Independent Business was published. This study was done of a cross-section of small businesses that employ 50 or fewer employees. That number is significant because employers who employ 50 or fewer employees are not subject to the Obamacare “penalty” for failure to provide insurance.
Here is what that survey found: 57% of those surveyed are either very likely or somewhat likely to drop their group plans. And,
[b]y overwhelming margins, small employers who have some knowledge of the new law think that [Obamacare] will not reduce the rate of health care (insurance) cost increases, will not reduce the administrative burden, will increase taxes, and will add to the federal deficit.
This is not exactly a ringing endorsement. Nor is it the mind set this economy needs for small business to create jobs.
And, were that not enough, it means that more employees, their spouses and their dependents will be dumped into the insurance exchanges to receive health insurance subsidized by you.