Employee Benefit Costs For Small and Mid-sized Companies

This annual report on employee benefits for small-and-mid-sized businesses, which covers companies that have between 2 and 250 employees, is in its fourth iteration and draws data from more than 3 million employees and 80 thousand employers.

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Based on the data collected, family premiums have risen by 18% since 2018 while premiums for individuals have risen by 21%, which equates to a more than $100 dollar increase for individuals and a more than $230 dollar increase for family plans.

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Between 2021 and 2022, companies with fewer than 10 employees saw an especially large premium spike with family plans increasing by 12% that year, which was nearly double the 6.5% rate of inflation registered over the same period. 

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Some of the most popular voluntary benefits at small-and-mid-sized businesses are dental, life, and vision insurance, but financial and wellness benefits as well as pet insurance continue gaining major ground in terms of employees’ priorities. 

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You can read more about where and how employee benefits and health insurance costs have shifted in small-and-mid-sized companies here.