Why Obamacare may not be right for some Hispanic business owners.
Beyond the disastrous rollout of the Obamacare website, many Hispanic business owners see other problems ahead. These include hiring freezes, lower employee hours and increased insurance premiums.
Editors Note: From time to time, Latin Business Today will present views from across the political spectrum on issues of vital interest to business people. These views are the soley the authors. Below, a perspective on the impact of the Affordable Healthcare Act on Hispanic businesses. Earlier in the year the author participated in a Debate & Debrief video with Jose Sueiro, Principal of MetroDiversity Foundation Inc.
By now everyone knows that the Affordable Care Act (Obamacare) rollout has been a complete disaster. Less known is that Obamacare is already causing many business owners, including many Hispanic entrepreneurs, to resist hiring additional workers because of the uncertainty of Obamacare.
The fact is that for the backbone of our economy, the small business owner, the glitches of the Obamacare site are secondary compared to the immediacy of coping with the regulations, taxes and paperwork.
Lost on many of the most powerful Hispanic interest groups and the White House are facts that many businesses are slashing hours and dropping healthcare coverage for their employees. In fact, a recent survey by Mercer points out that many industries that depend on part-time jobs will be hit hard by the employer mandate. Whats more many employers are being very cautious in expanding their current payroll as recent feedback notes collected from the Federal Reserve point out, including this one: Many contacts also commented on a reluctance to expand due to uncertainty surrounding the Affordable Care Act some employers are cutting hours or employees.