According to the American Action Forum (AAF), a center-right policy institute, Obamacare, over the course of its history has cost American small businesses almost 300,000 jobs and led to the closing of over 10,000 businesses.
Now before you stop reading because you read the “center-right policy institute”, let me be clear. Every organization like the AAF has an agenda. But, just because they have an agenda, doesn’t mean their wrong. The research report was created by analyzing data collected by the U.S.Census Bureau, the Medical Expenditure Panel Survey, and the Bureau of Labor Statistics. According to the report “Across the country, small businesses (20-99 workers) lost 295,030 jobs, 10,130 business establishments, and $4.7 billion in total wage earnings.” The big issue concerning Obamacare has always been its rising cost and lack of full support from the healthcare industry.
The Obamacare business model only works if everyone pays into it and is full supported by the industry, which ultimately never came to fruition. On the positive side, the mandate did help to provide over 20 million Americans with healthcare, but as it pertains to small business, it was not as much of a positive.
The debate for how many jobs and businesses Obamacare ruined is up for debate, but the truth is that, for small firms, the legislation did alot of harm for companies unfamiliar with its workings. Hopefully the next healthcare mandae will go smooth for all parties involved.