Across America many small-business owners are cheering at the GOP win on repealing and replacing Obamacare. After years of debate, the House voted Thursday to repeal key parts of the Affordable Care Act and replace them with new provisions that change the way the federal government funds purchases of individual health plans and Medicaid.
Health care has become an ongoing source of pain for many small-business owners. It was the top issue owners wanted Trump to address in a survey of 700 owners and prospective buyers in late February by BizBuy Sell, a marketplace for small businesses.
Among respondents, 60 percent favored an ACA repeal. The major reason: spiraling health insurance premiums — often a result of insurance companies fleeing the marketplace.
It is a trend affecting business owners in all states. Ross Coulter, 49, and his wife, who run a two-person public relations firm in Dallas, have been hunting for a new health insurance plan after Humana notified them it was discontinuing their current one. They had no immediate plans to slow their search after the House vote. They are looking for an affordable replacement by July 1 for the high-deductible plan, for which premiums are $900 a month for the couple and their three children.
"The only plans that are comparable would be a $400- or $500-a-month increase," says Coulter, who is now considering options like a Medi-Share plan, run by Christian Care Ministry, in conjunction with a cancer-coverage policy.