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Small business owners concerned about group health costs

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Ways to address rising costs

We all know that group health plans are becoming more and more expensive. But who’s taking the biggest hit from these rising costs? The answer: small business owners.

A recent study conducted by ehealth concluded that the average per-person premium for small business coverage is continuing to trend upwards. They reported an 8 percent increase in coverage costs between 2016 and 2017. Eighty percent of small business owners are concerned about this trend, with 6 in 10 saying that they would be unable to afford a 15 percent hike in prices.

What if there was a way to keep, or even improve, your group health plan while avoiding the pitfalls of this costly trend?

If you’re a small business owner, concerned about the sustainability of your company’s health plan, it may be time to look at moving away from your fully-insured plan. Small business owners often have more options than they think. Moving towards a self-insured strategy often helps small business owners reduce their healthcare costs and boost their bottom line. Read more about alternate financing strategies here.

Bernard Health has over a decade of experience with helping employers navigate their health-plan options. One of our advisors would be more than happy to take a look at your current strategy, and make suggestions that could lead to real savings.

For more on alternate financing, download our e-book!

Click below if you’d like to speak with a noncommissioned advisor!

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