Report: 74% of Small Businesses Plan to Make Cuts Under Obamacare

Equal pay executive orders

[lin_video src=http://eplayer.clipsyndicate.com/embed/player.js?aspect_ratio=16×9&auto_next=1&auto_start=0&div_id=videoplayer-1374196571&height=360&page_count=5&pf_id=9620&show_title=1&va_id=4148249&width=640&windows=2 service=syndicaster width=640 height=360 div_id=videoplayer-1374196571 type=script]

MASON CITY, IA – A new report from the US Chamber of Commerce suggests that about 75% of small businesses plan to cut hours or even jobs to help combat the costs of the Affordable Health Care Act.

We talked with a local business to see if locally we will see that same trend.

“I guess right now we’re still learning like everyone is.”

Lisa Heimer is the CFO of Woodharbor Custom Cabinetry in Mason City. She says there are a lot of unknowns as to how it will affect her company when they switch over to the Affordable Health Care Act or as many know it as; Obamacare.

But she is aware of how it will affect the cost of insurance renewals.

“We’ve estimated that to be about, it could be as much as $190 per member that’s covered by insurance,” says Heimer.

That’s not just the 180 employees of Woodharbor but all the family members of employees that are covered as well.

“Doing a calculation on that, if we kept everything exactly the same today and didn’t change the plan, didn’t change coverage and we got a flat renewal it could impact us maybe 7% of additional costs,” she says.

As far as how else they’ll be affected, well, Heimer says that’s really unclear and they’re not the only business in that boat.

“They have that wait and see attitude right now they’re really looking to see if they can gather more information to make an informed decision. I think that’s primarily the biggest thing that people are looking for in that regard,” says Tony Buhr with Manpower.

Burh tells us the doesn’t foresee reduced hours or jobs being eliminated, at least in this area, for now.

“I’m not really hearing that type of information about whether people are cutting hours or jobs in the safe of the affordable health care act in north Iowa,” adds Buhr.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s