A recent survey by the International Foundation for benefit plans (IFEBP) explored the reactions of employers in the affordable care Act (ACA). Specifically, IFEBP asked business owners what they were doing to reduce Medicare costs.
The good news is that almost all respondents expressed interest in continued coverage of health insurance to their full -time employees. Only three percent said they would consider discontinuing coverage over the next five years. While small business health insurance costs are rising for many companies, most companies find a way forward.
Increased Out-of-Pocket contributions and Franchises
To reduce small business health insurance costs, many entrepreneurs are
opting to pass along the cost employees through high deductible and lower employer plans share percentages. 
For example, companies that traditionally paid for two-thirds of health coverage for an employee could halve.
Selection of high level franchise options generally allows lower premiums, temporarily alleviate the financial burden on employees. In the short term, this strategy can keep employees happy; However, if a group member needs surgery or suffering from a serious illness, the patient may find himself or herself paying a lot more out of pocket costs than someone on a plan to reduce franchise.
Source: International Foundation benefit plans
Reduced staff hours to include more part-time workers
Another strategy less-used some small businesses use to control health insurance costs is to reduce the number of hours that employees work. Because the ACA considers anyone working on average 30 hours per week for a full-time, some business owners are slimming down hours.
This practice is not widely used or even possible for all business owners, but it is interesting to note that almost ten percent of respondents indicated that they had already taken this step. In addition, three and a half percent said they intended to do so in the next year.
Alternatives to Health Insurance for Small Enterprises
As group health insurance plans continue to pose a challenge for financial employers and employees, it is important to address other health insurance options. Solutions such as individual health insurance, defined contribution plans and cooperatives can help relieve stress and part of the financial burden. With a little time and research, it is quite possible to find a more affordable solution for your company 'small health insurance plan.
Conclusion
As the cost of health care continues to rise, companies are looking for ways to reduce their overall costs. While most companies plan to continue coverage of the offer, unfortunately, the result seems to be that workers are asked to pay more of their health insurance costs. However, alternatives to traditional group coverage could save employers and employees money.
What are you doing to control health insurance costs for your business? Let us know in the comments below!
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