Majority of Business Owners Hesitant to Visit Healthcare Exchanges

Newtek Business Services, announced today the findings of its October SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners.

Based on a poll with over 2,500 respondents, one of the key findings from the survey is that 86% of business owners have not visited a State or Federal health care exchange to price health insurance costs. Additionally, only 16% anticipate visiting an exchange before the end of the year.

Barry Sloane, Chairman, President and CEO of The Small Business Authority^® commented, “It is apparent that a confluence of factors has caused independent business owners to avoid going to a State or Federal exchange whether it be:

1. Negative publicity related to the health care exchange websites
2. The waiver given to all businesses to comply in 2015 rather than 2014
3. Most business owners will not be applying for Medicaid, which may be a primary motivation for visiting an exchange

“We are not surprised by the low levels of our business clientele who have visited government-sponsored sites or the fact that so few intend to visit an exchange between now and the end of the year. Previous surveys have shown that there is significant confusion over the changes in the market for health insurance and the current problems related to the online sites has clearly only made this worse.”