Survey: Obamacare Has Hurt Manufacturers

Monday, 09 Dec 2013 12:12 PM

By Dan Weil

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The disastrous rollout of Obamacare and rising healthcare costs are putting a crimp on manufacturers, according to a new survey conducted by the National Association of Manufacturers (NAM)/IndustryWeek.

Manufacturers are having trouble investing and growing thanks to Obamacare and its attendant uncertainty, the fourth-quarter poll shows.

A total of 32.9 percent say they have reduced their business outlook for 2014 as a result of Obamacare's implementation. In addition, 23.1 percent have curbed or ceased hiring, and 20.2 percent have cut or decelerated their business investment.

Editor’s Note:
Obama Donor Banned This Message (Shocking)

To be sure, while some industry sectors are reportedly cutting back on workers' hours in response to Obamacare, only 7.9 percent of manufacturers have done so, according to the survey.

Overall, though, 77.2 percent of the manufacturers surveyed cited rising health insurance costs as a primary business challenge. That tops a list that also includes an unfavorable business climate (taxes, regulations, government uncertainties) at 76.1 percent and weaker domestic economy and sales for products at 51.9 percent.

"Costs and uncertainty are up, and manufacturers' optimism is down thanks to the healthcare reform law," NAM Senior Vice President Aric Newhouse, said in a statement.

"The healthcare law has weighed heavily on manufacturers all year long—and their concerns are not going away. It is standing in the way of manufacturing growth by seriously limiting investment and job creation."

On the consumer side, meanwhile, people of modest means enrolling for coverage on the Healthcare.gov website are running into a major roadblock — deductible increases, The Wall Street Journal reports.

The average individual deductible for the lowest-priced plan on the exchange totals $5,081 a year. That compares with an average deductible of $3,589 for a plan bought in 2013 before much of Obamacare was in place, according to HealthPocket, a company that compares health-insurance plans, The Journal reports.

Editor’s Note: Obama Donor Banned This Message (Shocking)

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