Rising costs result in less workplace health insurance
People don't have to be unemployed to be in the market for private health insurance. A recent study finds that a growing number of small businesses are scaling back benefits to their workers.People don't have to be unemployed to be in the market for private health insurance. A recent study finds that a growing number of small businesses are scaling back benefits to their workers.
According to the findings by George S. May International, 54 percent of small businesses now offer health insurance to their employees. However, of that segment, 22 percent of employers in the survey only paid half of their employees' costs.
A total of 57 percent of employers said that they pay 70 percent or less of employee healthcare costs.
"A recipe for disaster is looming among small businesses that are already not profitable, as they struggle with this very difficult challenge to try and provide for their own employees," said Paul Rauseo of George S. May.
The recession in general has forced many business owners to scale back their benefit packages and in some cases to eliminate health coverage altogether. Still, consumers can often find a suitable health insurance policy by taking some time to shop online.
Learn how easy and convenient shopping for health insurance can be. Get your free health insurance quotes today!
Posted: July 27, 2009
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