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Janel Knight Trulear
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North Carolina small business owners say the healthcare market is broken, broadly support solutions to bring down costs 

As the average annual price for employer-sponsored family health coverage reaches $23,968, NC small business owners say the high costs are hindering their ability to grow and hire and support a wide range of policies to rein in costs. 

Wednesday, December 13, 2023–The North Carolina responses in a new Small Business for America’s Future survey of 1,015 small business owners across the country reveals that 88% of participants believe the healthcare market is broken and shows strong support for legislative solutions ranging from regulating anti-competitive practices to boosting price transparency in billing in order to bring down the costs.   

Annual premiums for employer-sponsored family health coverage reached $23,968 in 2023, with workers on average paying $6,575 toward the cost of their coverage. Seventy-six percent of North Carolina small businesses participating in the survey said that the cost of healthcare impacts their businesses and constrains their ability to grow and hire and causes them to raise prices for their goods and services. 

"In North Carolina, small business owners are confronted with the harsh reality of increasing healthcare costs, hindering the ability to thrive and invest in their businesses and hire in our communities,” said Jim Duffett, Director of Small Business for America’s Future North Carolina. 

Key findings from the survey include: 

• 62% experienced increased premiums last year, with more than one in ten facing more than a 15% hike, indicating the severity of rising healthcare costs.
• 76% of the small business owners surveyed indicated that healthcare costs impact their business’s bottom line. 
• 78% of respondents do not offer health insurance, mainly hindered by the high cost (67%), emphasizing the necessity for affordable healthcare options.

Small business owners surveyed showed considerable support for legislative measures like price transparency (79%), site-neutral billing (72%), regulating anti-competitive practices (78%) and facility fees (67%) with 83% responding that it is extremely important for hospitals to clearly disclose facility fees to patients before they receive care.

“The high cost of healthcare forces owners to either go without, which hampers their ability to hire quality employees and jeopardizes their health, or cuts into their bottom line significantly, holding back their ability to grow and create new jobs,” said Duffet. “It’s no wonder they support any number of policies that attempt to bring down costs. They are desperate for solutions. Our leaders need to act. Passing smart policies will unlock a lot of entrepreneurial activity—and the jobs and economic activity that benefit all our communities.”

Senate Bill 321 passed the North Carolina Senate in May with bipartisan support but stalled on the House floor. The proposed legislation includes provisions that would limit medical debt interest rates and increase transparency by requiring medical facilities to post price information online. 

View the North Carolina and national survey reports here.

To schedule an interview with Jim Duffett, Director of Small Business for America’s Future North Carolina or other small business owners contact: Janel Knight Trulear at janel@emccommunications.com or (617) 875-6581.

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About Small Business for America’s Future
Small Business for America’s Future is a coalition of small business owners and leaders nationwide working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize Main Street by advancing a just and equitable economic framework that works for small business owners, their employees and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF