Small business owners concerned about group health costs
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!
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