Higher Premium Costs Affect Employee Health Insurance Enrollment at Small & Mid-Sized Companies

According to a recent write-up at Benefits Pro which took a look at some data collected by employee benefits and hr tech company Ease, it appears that the smallest of small businesses have been getting hit especially hard when it comes to health care cost increases.

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Per the report, premium costs went up by 12% in 2022 for companies with 10 or fewer employees. Further, small and mid-sized businesses have averaged a 21% premium spike since 2018, but family premiums only increased a little over 17% during the same time span.

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The steeper increase in costs among the smaller end of the small and mid-sized business spectrum also appears to be dampening enrollment, with companies that have 10 or fewer employees seeing a decrease in employee health insurance enrollment, while the larger of the small to mid-sized businesses registered an employee health insurance enrollment increase despite growing costs and inflation.

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You can read more about that report and analysis here.