Some small businesses have seen group health insurance premiums leap 50, even 70 percent – an uncommon event they may have little control over, that nevertheless could jeopardize their businesses.
Following up on word from a leading entrepreneur who reported a 50 percent group health premium hike, Guardian Business learned that, though uncommon, some businesses did face the uncharacteristic highs, though there would always be special circumstances underlying such anomalies.
The typical eight to 15 percent health premium increase may be sufficiently staggering for businesses large and small to contend with. Official statistics show consumer price inflation of around 1.34 percent for 2010, for example, meaning businesses are seeing disproportionate expansion in health insurance costs compared to inflation.
But the extreme spikes present even greater business challenges, particularly to small businesses, that are often limited in their options to reduce health insurance costs and continue to offer their staff coverage.
