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Seven in 10 Americans: Obamacare Has Failed to Make a Positive Impact

Wednesday, May 28, 2014

Seven in 10 Americans: Obamacare Has Failed to Make a Positive Impact

08:00 EDT Wednesday, May 28, 2014

Negative Sentiment Increases with Income

NEW YORK, May 28, 2014 /PRNewswire/ -- Forty-three percent of Americans believe the Affordable Care Act has had a mostly negative impact on the country and 21% say it hasn't made much of an impact at all, according to a new Bankrate.com (NYSE: RATE) report. Only 28% say the ACA has had a mostly positive impact. Negative sentiment increases with income; feelings are more evenly split among those with annual household income under $30,000.

Bankrate.com.

"These findings indicate that more than seven in 10 Americans don't feel like Obamacare has been worth it," according to Bankrate.com insurance analyst Doug Whiteman.

S&P Capital IQ recently predicted that by 2020, nine in 10 workers who currently receive health insurance through their employers will instead manage their own health plans on Obamacare-style government exchanges. According to Bankrate.com, 30% of Americans think this would have a negative impact and only 14% forecast a positive change.

About one in four Americans with employer-sponsored health insurance (23%) are more likely to retire early or otherwise leave their jobs due to the ACA. That is almost three times as many as the eight percent who are less likely to move on. People with annual household income between $50,000 and $75,000 are the most likely to quit.

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

The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:

http://www.bankrate.com/finance/insurance/health-insurance-poll-0514.aspx

PSRAI obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States. Interviews were conducted by landline (500) and cell phone (500, including 291 without a landline phone) in English and Spanish by Princeton Data Source from May 15-18, 2014. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error is plus or minus 3.5 percentage points.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca, NetQuote.com, and CD.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information:

Ted RossmanPublic Relations ManagerBankrate, Inc. ted.rossman@bankrate.com (917) 368-8635

Logo - http://photos.prnewswire.com/prnh/20130805/FL58072LOGO

SOURCE Bankrate, Inc.

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