Most Business Executives Prefer Repeal of Affordable Care Act, AICPA Survey Finds

Most business executives want to see the Affordable Care Act repealed, an AICPA survey of CEOs, CFOs and other senior-level CPAs found.

But they also expect their company’s health care expenses to rise this year and next, no matter what happens in Capitol Hill deliberations on the fate of the sweeping health care insurance law, the AICPA says.

Asked their preference for action on the Affordable Care Act, 61% of respondents to the first-quarter AICPA Economic Outlook Survey said they preferred “repeal and replace,” while another 10% said they wanted to see the health care coverage program repealed and not replaced. Almost one-in-five respondents (18%) said they preferred to leave the law as is. Ten percent said they weren’t sure which option they preferred. The survey questions were fielded before the Trump administration and congressional Republicans unveiled their own version of a health care coverage plan, the American Health Care Act, earlier this month.

Despite the uncertainty over health care reform, an overwhelming majority (80%) of business executives said they expected at least some additional expense for their employer-provided health care plans this year, with 43% saying they expected an increase in the range of 6% to 10%, and 26% estimating a rise in the 1% to 5% range.

“Business executives now cite ‘employee and benefit costs’ as the top challenge facing their companies,” said Arleen R. Thomas, managing director of Americas Market, Global Offerings & CGMA Exam, Management Accounting for the Association of International Certified Professional Accountants. “A year ago, that category was No. 6 on the list, and it’s clear health care costs are a major concern driving this upward shift.”