Health Care Big Worry For Small Biz
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A national survey of small business owners revealed that the U.S. health care system remains a top concern.
Almost nine out of 10 small business owners surveyed said the current health care system is in need of change, with six of 10 saying a complete overhaul is in order.
The survey found 55 percent of small business owners do not offer any health insurance to their employees, citing high cost as the No. 1 reason. Of these business owners, 55 percent said they would be more likely to offer such benefits if the federal government provided some financial incentives for this coverage.
A third of small business owners said they were cutting back on noncapital investments so they could provide health care for their employees.
Results were based on telephone interviews with 603 small business owners nationwide conducted July 12-23 for the Wells Fargo/Gallup Small Business Index. The margin of sampling error is plus-4 percentage points.
Small business owners were asked what effect adequate health insurance has on a company’s employees. Eighty-four percent said that adequate coverage attracts the best qualified employees, and 81 percent agreed that it improves employee loyalty. Eighty-three percent believed it reduced an employee’s likelihood to leave a company.
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