Small and medium businesses are an important driving force in the US economy. And although more than half 
of some 7.4 million employers in the country have fewer than 0 employees, did you know 2.7 million small and medium businesses do not offer health insurance?
This alarming statistic begs the question: If you are worried that over a third of small and medium enterprises not offer employees health insurance? It is definitely something you should be aware of as a small business owner. In this article, we will discuss why many small businesses do not offer health insurance and what is the solution.
Small and medium less likely to offer health insurance companies
Currently, there are about 7.4 million employers in the United States the majority are micro and small enterprises, with 82 percent with less than 0 employees and 62 percent are less than ten employees.
While small and medium enterprises are the majority of the workforce of our nation, they are much less likely to offer health insurance. In fact, only 54 percent of all small and medium sized employers (with fewer than 0 employees) offer traditional health insurance to employees; compared with 98 percent of large employers that offer health insurance to employees.
The larger the company, you are less likely to offer health insurance. . Among employers with fewer than ten employees, only 44 percent offer insurance today illness
Read more: 8 Small Business Trends Health Benefit All owners should know
therefore why so few small businesses offer health insurance cost
The Culprit behind this? -. insurance cost disease
There is a reason millions of small businesses do not offer health insurance to their employees - cost. The fact is, the group health insurance sponsored by employers has become very difficult for small business owners to afford. From 1999-2014 average annual costs for single coverage have greatly increased from $ 2,196 per employee to $ 6.025, respectively. Most small businesses over the years have dropped coverage because they simply could not afford longer.
This trend is proof that small businesses need more affordable and sustainable health insurance solutions. Also, if you have not been able to afford health insurance sponsored by the employer, or do not believe that this is the best way to ensure employees, you are not alone.
is there a solution No doubt:. Individual Insurance health
The solution for small and medium enterprises
How individual health insurance is the solution for small businesses to offer health insurance? Individual health insurance plans are designed to be an alternative to group health insurance sponsored by employers.
individual health insurance is on path for small and medium enterprises to provide affordable health care and reliable employees. Individual health insurance is
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Portable
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The half the cost of employer-sponsored health insurance
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customizable
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reliable
to make it as a family group plan individual health insurance for employees many small business owners incorporate a return of premium plan (PRP). This plan allows you to pay your employees, tax free, for their individual health insurance premiums and is common among small business owners. And recently, the IRS is working to make health benefits, such as PRP, more accessible to small business owners
Read more :. IRS Delays Penalties for the employer payment schemes
small business owners benefit PPR because they allow them to control costs, provide health benefits to recruit and retain, access to quality care that is as good and better than group health insurance employer-sponsored some cases, and are often tax deductible for small businesses.
Conclusion
health insurance is a major advantage for both your small business and your employees. And although nearly three million small and medium businesses do not offer health insurance, you should not be one of them. premium payment plans are a way for small business employers to provide quality health care benefits for employees and provide them with the coverage they need.
Are you one of the 2.7 million small businesses that do not offer health insurance? If yes, why? Leave us a comment below.
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