Most Americans don’t think PPACA is ‘worth it’News added by Benefits Pro on May 29, 2014

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By Kathryn Mayer

Though the Obama administration has been busy touting the 8 million new enrollees in PPACA plans, it seems the public is not impressed, with more than seven in 10 Americans saying Obamacare has failed to have a positive impact on the country.

According to a survey from Bankrate, 43 percent of respondents said they believe the Patient Protection and Affordable Care Act has had a primarily negative effect on the U.S., while 21 percent said PPACA has not had much effect on the country. Another 28 percent said the law has had a mostly positive impact on the country, according to the survey, which questioned 1,000 adults.

Overall, says insurance analyst Doug Whiteman, “these findings indicate that more than seven in 10 Americans don’t feel like Obamacare has been worth it.”

Negative sentiment increases with income, while PPACA is more popular among those with an annual household income under $30,000.

The report’s findings include some bright spots. Among them: there have been great strides made in decreasing the percentage of uninsured in the country.

Bankrate found that the percentage of Americans without health insurance has fallen to 11 percent, the lowest since its monthly Health Insurance Pulse surveys began in August 2013.

A year ago, Bankrate measured that percentage at 15 percent.

Its latest finding is in line with Gallup’s figures, which last month showed that the country’s uninsured rate has fallen to its lowest level since 2008.

Additionally, the Bankrate survey found that nearly a quarter of respondents say they will be more likely to retire early or leave their jobs because they can get health coverage via PPACA’s exchanges.

Despite that good news, it seemingly hasn’t been enough progress to sway the public on PPACA.

Poll after poll has found that the law’s popularity never really recovered after the botched rollout of the exchanges back in October.

The latest report from Bankrate also shows that Americans are worried about shifting employer coverage due to PPACA. Bankrate asked respondents about companies moving workers out of employer-provided health insurance and into individual plans sold on private exchanges.

Analysts referred to a Standard & Poor’s Capital IQ report, from earlier this month, that estimated that 90 percent of S&P 500 companies could move their workers toward such private exchanges by 2020, saving an estimated $689 billion in costs. Bankrate said 30 percent of respondents believed such a shift toward private exchanges would have a negative impact. Just 14 percent said it would be a positive move.

Bankrate's Health Insurance Pulse survey was conducted May 15-18 by Princeton Survey Research Associates International.

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