Discover Survey Finds Majority of Small Business Owners Favor Repeal of Health-Care Reform Law
18 Gennaio 2011 - 8:58PM
Business Wire
More than half of small business owners favor the repeal of the
health care reform law passed by Congress and signed into law by
President Obama in 2010, according to a survey from Discover
conducted January 10-12. Forty-six percent also say that the
current health care reform law will hurt their business.
In addition, 47 percent of small business owners who provide
health insurance to their employees said they are considering
discontinuing health insurance because the costs are too high – the
highest figure since Discover began the survey four years ago.
Fifty-one percent of small business owners who offer health
insurance to their employees say they are not considering
discontinuing the insurance, and 2 percent were unsure.
Discover has been surveying U.S. small business owners about the
issues that affect them for more than four years through the
Discover® Small Business WatchSM. The first poll about health care
was conducted in 2008, when 40 percent of respondents offering
health insurance to employees said they were considering
discontinuing it because of cost. That figure had dropped to 29
percent last year, but rose 18 points to 47 percent in this year’s
survey.
The majority (55 percent) of small business owners favor repeal
of the health care law, 36 percent oppose it and 9 percent are
unsure.
Forty-six percent say the new health care reform will hurt their
small business, while 27 percent say the new plan will help, 16
percent say it will have no impact, and 11 percent are not sure.
Eleven percent of small business owners report that obtaining
affordable health care is “not very” difficult, while five percent
report no difficulty and 15 percent are not sure.
“Small business owners are suffering from rising health care
costs, and according to the survey, most don’t believe the current
law is the solution,” said Ryan Scully, director of Discover’s
small business card.
The percentage of small business owners reporting difficulty in
obtaining affordable health care for themselves and their employees
has grown to 69 percent, up 4 points from last year.
Thirty-eight percent of small business owners report health care
costs having a major impact on their business, up 4 points from
last year. Twenty-one percent report a minor impact, 32 percent
report no impact and 8 percent are not sure.
About the Small Business Watch
The Discover Small Business Watch is a monthly index measuring
the relative economic confidence of U.S. small business owners who
have less than five employees, a segment that consists of 22
million businesses producing more than a trillion dollars in annual
receipts. The Watch is based on a national random survey of 750
small business owners. It is commissioned by Discover Business
card, which strives to offer the best business credit card for
American small businesses, and is conducted by Rasmussen Reports,
LLC (www.rasmussenreports.com), an independent survey research
firm. The numeric index is calculated by assigning values to
responses to a set of five consistent questions. The base value of
the Watch was established at 100.0 based on surveys conducted in
August 2006. In addition to generating the index, the Small
Business Watch surveys small business owners every month on key
issues, and polls 3,000 consumers four times per year to gauge
purchasing behavior and attitudes towards small businesses. For
past results and survey data, visit
www.discovercard.com/business/watch. For information on Discover
Business card, visit www.discovercard.com/business.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company operates the Discover card, America's cash rewards
pioneer, and offers personal and student loans, online savings
accounts, certificates of deposit and money market accounts through
its Discover Bank subsidiary. Its payment businesses consist of
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discoverfinancial.com.
The views and opinions expressed by small business owners and
consumers who participate in the Small Business Watch survey are
their own and do not necessarily reflect those of Discover
Financial Services or its affiliates.
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