Small business owners in California said they would be more likely to offer health insurance after learning about tax credits available under the Affordable Care Act, according to a new poll by Pacific Community Ventures.
The survey of 804 businesses with fewer than 20 employees found that nearly half of those surveyed – 48 percent – weren't aware of provisions in the law designed to benefit small business owners.
[See also: Study says Affordable Care Act will strengthen employer-based health insurance; Treasury Department highlights small business health insurance tax credits]
"This survey shows the tremendous opportunity to further inform small business owners about the healthcare act's core benefits available to help them offer insurance," said Beth Sirull, executive director of Pacific Community Ventures, a nonprofit organization focused on jobs creation in low-income communities. "Armed with this information, small businesses will play a vital role in covering great numbers of uninsured workers to buoy our economy with a healthy, productive workforce."
Notably, the poll found that 57 percent of small businesses are unfamiliar with the small business tax credits they can claim in 2010 to offset healthcare costs, and 62 percent have not heard of health insurance exchanges. When provided with basic information about the exchanges, 55 percent said they would be likely to participate, and 32 percent of businesses not providing coverage said they would be more likely to offer it because of the exchanges.
The results of the survey are similar to those from a survey by Sausalito, Calif.-based non-profit Small Business Majority, which helped advise Pacific Community Ventures.
"Both a national survey we released in January and feedback we received from small business owners during our recent California Listening Tour confirms that when owners learn about the benefits for them in the law they like what they hear and say it makes them more likely to offer insurance," said Small Business Majority Founder and CEO John Arensmeyer.
According to the survey:
- 52 percent of small businesses already offering insurance said they would be more likely to continue providing it because of the small business healthcare tax credits;
- 35 percent of respondents already offering insurance said the exchange makes them more likely to continue providing coverage;
- 30 percent of respondents said the exchange is more attractive if employee choice is included;
- 45 percent of respondents identified themselves as Republicans, 26 percent as Democrats and 21 percent as Independents;
- Respondents owned businesses in the industry and manufacturing sector (29 percent), the retail and restaurant sector (21 percent), the service sector (44 percent) and other sectors (5 percent).
- 50 percent of the respondents were from businesses with 2-9 employees and 50 percent were from businesses with 10-19 employees.
For more information on the survey, click here.