Tags: ADP | mid-sized | business | healthcare

ADP: Main Street Still Fretting About Obamacare, Heavy Yoke of Government

By    |   Wednesday, 15 October 2014 02:15 PM

Obamacare was passed four years ago now, but most mid-sized U.S. businesses still don't have clarity about its requirements and most remain fearful of its costs.

Research from payroll provider ADP shows that 69 percent of the 750 mid-sized business owners surveyed in July and August are very or extremely concerned about the employee price tag for coverage and benefits they must pay for the Affordable Care Act (ACA).

Less than a quarter of those surveyed are confident that they have the tools and information needed to make the decisions about the best health and benefits strategies for their companies.

In addition, more than 75 percent of the respondents lack confidence that their organizations understand all new ACA regulations

More business owners now than in years past are trying to mitigate increased costs of healthcare coverage, but their level of action doesn't match their concern.

Mid-sized businesses are defined as those with between 50 and 999 employees – a wide swath of Main Street.

"Business owners and executives at midsized businesses are expected to
operate with the agility of smaller businesses but abide by many of the same regulations that govern larger enterprises," the report stated.

It isn't just Obamacare that is weighing on U.S. business confidence.

Only half of the ADP survey respondents expected their own industries would strengthen in the coming year, while a dismal 15 percent expect the overall American economy will get better during that time.

More than half of the mid-sized business owners said they were very or extremely concerned with the heavy load of government regulations that they face, and perhaps for good reason — a third said they had been saddled with unexpected fines or expenses in the past year for regulatory noncompliance.

"In 2013 alone, there were more than 19,000 proposed changes to laws and regulations that impact how businesses manage employees," said Anish Rajparia, president of major account services at ADP. "So it comes as little surprise that the level and volume of government regulation made our list of top concerns three years running."

The Washington Times reported that the Obama administration does not intend to disclose what insurance will cost in 2015 under the Affordable Care Act on the Obamacare website until after the Nov. 4 elections.

But the Times predicted that states with key Senate races will get hit with double-digit premium hikes.

Last year, Obamacare open enrollment on the healthcare exchange started on Oct. 1. But this year, it has been delayed until Nov. 15 — 11 days after the election.

"This is more than just a glitch," said Tim Phillips, president of Americans for Prosperity. "The administration's decision to withhold the cost of this law until after Election Day is just more proof that Obamacare is a bad deal for Americans."

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Obamacare was passed four years ago now, but most mid-sized U.S. businesses still don't have clarity about its requirements and most remain fearful of its costs.
ADP, mid-sized, business, healthcare
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2014-15-15
Wednesday, 15 October 2014 02:15 PM
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