Tag Archives: employee benefit trends

Small Businesses Healthcare Competitive, But Faces Two Big Challenges
18th September 2017 by Site Admin in Uncategorized

We recently revealed how competitive small business health plans are when compared to national averages—and even how they are doing a better job of containing costs. But the UBA Health Plan Survey also uncovers two challenges these groups face in its new special report: “Small Businesses Keeping Pace with Nationwide Health Trends”.

1. Small businesses are passing nearly 6.6 percent more of the costs for single coverage and nearly 10 percent more of the costs of family coverage on to employees—and that number increases to 17.8 percent and over 50 percent more respectively when you compare small employers to their largest counterparts.

2. Small businesses also have higher out-of-pocket maximums, particularly for families.

To help attract and retain employees, Peter Weber, President of UBA, recommends small businesses should “benchmark their plans against their same-size peers and communicate how competitive their plans are relative to average national costs, deductibles, copays, and more.”

For more information on average annual costs for PPO, CDHP and HMO plans being offered by small employers—and the savings they are driving without reducing out of pocket costs, download our free special report: “Small Businesses Keeping Pace with Nationwide Health Trends”.

For the latest news on these small business findings, read our press release.

©Copyright 2017 by Bill Olson, Chief Marketing Officer at United Benefit Advisors. Reproduction permitted with attribution to the author.

Survey: Small Businesses Keeping Pace with Health Benefits Offered by Employers Nationwide
30th August 2017 by Site Admin in News, Healthcare Reform

Small employers, those with fewer than 100 employees, have a reputation for not offering health insurance benefits that are competitive with larger employers, but new survey data from UBA’s Health Plan Survey reveals they are keeping pace with the average employer and, in fact, doing a better job of containing costs.

According to our new special report: “Small Businesses Keeping Pace with Nationwide Health Trends,” employees across all plan types pay an average of $3,378 toward annual health insurance benefits, with their employer picking up the rest of the total cost of $9,727. Among small groups, employees pay $3,557, with their employer picking up the balance of $9,474 – only a 5.3 percent difference.

When looking at total average annual cost per employees for PPO plans, small businesses actually cut a better deal even compared to their largest counterparts—their costs are generally below average—and the same holds true for small businesses offering HMO and CDHP plans. (Keep in mind that relief such as grandmothering and the PACE Act helped many of these small groups stay in pre-ACA plans at better rates, unlike their larger counterparts.)

Think small businesses are cutting coverage to drive these bargains? Compared to the nations very largest groups, that may be true, but compared to average employers, small groups are highly competitive.

Read our breaking news on the latest survey findings.

Download our free special report: “Small Businesses Keeping Pace with Nationwide Health Trends”.

©Copyright 2017 by Bill Olson at United Benefit Advisors. Reproduction permitted with attribution to the author.