Health Costs, Economy Top Business Concerns as Election Looms: Survey

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Health care costs and the economy are the top factors affecting both employers’ business decisions and their vote in the upcoming presidential election, according to a survey released today by the Principal Financial Group.

More than half of employers (57%) say health care costs are top of mind in regards to their business decisions, while slightly less (54%) cite economic growth. Other top issues include uncertainty of taxes (45%), gas prices (43%), unemployment (37%) and inflation (36%). The Principal group surveyed 604 business owners in companies of 10-500 employees.

American business owners say both the economy and health care reform will impact their votes in the presidential election, but the economics matter slightly more.

President Obama’s Patient Protection and Affordable Care Act has been controversial, while many reports have attempted to understand the impact it will have on employers, all to different results. Challenger Mitt Romney has said he will repeal and replace the health reform law. Both candidates have very different views on how to best handle the struggling economy.

[Also see “Reform isn’t impacting employer-sponsored coverage”]

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