Over 90% of business owners do not intend on buying health insurance from the government, according to a new survey by Newtek Business Services, The Small Business Authority.

However, only 9% believe they will have to purchase health insurance from the government.

The SB Authority Market Sentiment Survey, which polled over 1,000 respondents, found that 88% of business owners do not think it is right for the Federal Government to force a state resident to buy health insurance.

Over half of the respondents (53%) believe the cost of healthcare is going to increase in the next two years, the survey stated.

The Small Business Authority chairman, president and CEO Barry Sloane commented said they are amazed that business owners do not truly understand the potential reality of the Patient Protection and Affordable Health Care Act (PPACA) more informally known as ObamaCare.

"There is wide spread theory that the PPACA will clearly reduce choice for private carriers and allow remaining carriers to continue to raise premiums subject to government regulation," Sloane said.

"If the Federal government, under the act, believes private insurers should not exist based upon pricing premium received versus coverage offered they effectively could eliminate this private sector business model.

"We are not taking the position that this will happen, we are only taking the position that this may happen and so few business owners (9%) think of this as a possibility. The Supreme court may rule the individual mandate and other parts of ObamaCare are unconstitutional and this would prove our survey participants were somewhat clairvoyant."