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Janel Knight Trulear
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National survey of small business owners shows bipartisan concern over high healthcare costs, appetite for policy to improve healthcare market pricing and transparency

The survey reflects a nearly equal representation of Republican and Democrat respondents, revealing a bipartisan concern about soaring costs

Wednesday, Dec. 13, 2023– A new national survey of 1,015 small business owners in Small Business for America’s Future’s network conducted between Nov. 8- Dec. 4, 2023 has revealed that an overwhelming 92% of participants believe the healthcare market is broken and shows strong support for legislative solutions ranging from regulating anti-competitive practices to boosting price transparency in order to bring down costs. The balanced political representation of the respondents underscores the universal nature of healthcare challenges among small businesses, transcending traditional partisan lines and emphasizing the broad-based demand for effective policy solutions. 

Eighty-one percent of small businesses participating in the survey said that the cost of healthcare impacts their businesses and said it constrains their ability to grow and hire and causes them to raise prices for their goods and services. Annual premiums for employer-sponsored family health coverage reached $23,968 in 2023, with workers on average paying $6,575 toward the cost of their coverage.  

“Our survey shows rising healthcare costs remain a top concern for small business owners posing a threat to their overall financial health and capacity for growth and development,” said Small Business for America’s Future Co-chair Dr. Erika Gonzalez, CEO, President, & Co-Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research. “These costs force small business owners to make tough decisions like delaying new hires or implementing price increases on goods and services.” 

Key findings from the survey include: 

• 90% experienced increased premiums last year, with more than one in two facing more than a 15% hike, indicating the severity of rising healthcare costs.
• 81% of the small business owners surveyed indicated that healthcare costs impact their business’s bottom line. 
• 62% of respondents do not offer health insurance, mainly hindered by the high cost (60%), emphasizing the necessity for affordable healthcare options.

Small business owners survey showed considerable support for legislative solutions like increased price transparency (77%), site-neutral billing (76%), regulating facility fees (74%), and regulating anti-competitive practices (76%), some of which are included in the bipartisan Lower Costs, More Transparency Act that passed the House this week. It would require medical providers to meet new price transparency requirements and push closer toward site-neutral payment reform. This bipartisan support is reflected in the survey, with 85% of Democrats and 73% of Republicans showing support for site neutral billing, which would require the same price to be charged for a procedure performed in a hospital or an outpatient facility. 

“Small business owners from both major political parties are fed up with the current state of healthcare prices and are calling on legislators to craft practical solutions that will help lower costs.” said Gonzalez. 

View the full survey report here. 

To schedule an interview with SBAF Co-chair Dr. Erika Gonzalez or other small business owners contact: Janel Knight Trulear at janel@emccommunications.com or (617) 875-6581.

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About Small Business for America’s Future
Small Business for America’s Future is a coalition of small business owners and leaders nationwide working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize Main Street by advancing a just and equitable economic framework that works for small business owners, their employees and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF