FOR IMMEDIATE RELEASE:
Peg Newman, Managing Partner of Sanford Rose Associates® – Newman Group and Brian Binke, CEO of The Birmingham Group – A member of the Sanford Rose Associates® network of offices, Featured in American Express, What Trump’s First 100 Days in Office Mean for Business Owners
Plano, TX 6/9/2017
By: Geoff Williams
You may have heard a lot of talk about President Trump’s first 100 days in office. But what does it all mean for your business? Nobody has a working crystal ball, but business owners and experts are trying to make sense of how the first three months might affect the next four years.
In these times, there’s no doubt that the billionaire entrepreneur has made decisions that will affect companies. So here’s a look at a few of the big moments of the last 100 days—and how it may affect business going forward.
Brian Binke, CEO of The Birmingham Group, a Detroit-based executive recruiting firm that specializes in the construction industry, believes premiums will come down if the Affordable Care Act disappears.
“I’ve found that very few companies in America use Obamacare for their employee’s healthcare insurance,” he says.
But, regardless, Binke says, one of the biggest financial drags business owners have is the escalating cost of health care insurance for their workforce. He also says that from what he has seen, the ACA’s mandates have affected what needs to be covered on all health care insurance policies, and that the premiums for business group health care insurance have shot up.
“I know that the ACA isn’t perfect,” she says, but she adds that she likes it and says her company’s health care costs have been significantly less than it was before the ACA came along.
She also believes that it has been better for the business world, beyond the lower costs. “Employees have more freedom to move without benefit handcuffs, so it improves recruiting,” Newman says.