Thirty-eight percent of employers indicated that the added cost will likely limit new hirings. Approximately sixteen percent stated they would likely reduce existing staff levels, while fifteen percent would limit new hirings to part-time employees. Thirty-one percent of employers indicated that NHI would likely not affect their employment levels at all. "Employers are telling us that they will need to carefully look at the cost of labour and make some hard decisions as to what they can afford. Some employers are better positioned to maintain their current employment levels but likely will be forced to increase the prices of their goods or services to cover the added cost of doing business. Many employers do not wish to raise prices." according to Winston Rolle, spokesperson for the National Coalition for Health Care Reform. When asked how the higher cost of the proposed NHI tax would most likely be absorbed or accounted for, 28 percent of employers surveyed indicated they would cover the added cost by increasing the prices of their goods or services. Fifteen percent said they would be able to absorb the increased cost through reduced profits while five percent indicated it would reduce business expansion in the near term. "Taken in context of the great level of anxiety and uncertainty which the proposed NHI has on businesses who overwhelmingly question the long-term sustainability of the cost at the shared employer-employee contribution levels being proposed, this raises even further questions as to the extent which NHI in its present proposed form would have on employment levels and the cost of goods and services into the future." "Despite statements which have been made to the contrary, the member organizations of the National Coalition for Health Care Reform are in support of universal coverage but have questioned whether the approach being proposed is the most logical approach in the long-run for the people of The Bahamas and the nation's economy." states Mr. Rolle. The survey instrument was prepared by The Segal Company, a global leader in benefits, compensation and human resources consulting and research. A copy of the survey instrument was posted publicly on the Coalition's website for ten weeks and was made available to the Ministry of Health. The sampling survey covers a representative grouping of 82 employers covering all sectors of the economy and sizes of businesses. Half of those surveyed are categorized as small businesses, with 35% being medium-sized businesses and 19% large enterprises. The total employment for those firms surveyed is over 13,000. The National Coalition for Health Care Reform represents a cross-section of the nation's leading business, professional and labour organizations which are committed to working toward the introduction of a sustainable program of universal healthcare which embraces the principle of consumer choice. Member organizations of the Coalition include: the Bahamas Chamber of Commerce, the National Congress of Trade Unions, the Medical Association of the Bahamas, the Bahamas Hotel Association, the Bahamas Employer's Confederation, the Small Business Association of The Bahamas, the Grand Bahama Chamber of Commerce, the Bahamas General Insurance Association, the Bahamas Hotel Employer's Association, the Nassau Tourism &smp; Development Board, the Nassau Institute, the Bahamas Dental Association, the Bahamas Insurance Brokers Association, the Bahamas Motor Dealers Association, the Bahamas Manufacturers' Agents and Wholesalers Association, Doctors Hospital, and the Grand Bahama Medical & Dental Association. Press Release 2nd April, 2007    |
