Health Insurance For Small Business | Rates Skyrocket This Year

As the economy desperately tries to pull itself back-up, there’s more bad newsNY Times.

The Times reports that some experts feel that “the insurance industry is under a lot of pressure from Wall Street, and may be raising premiums in advance of any new legislation that reduce profits”.  Although costs are higher for large companies as well, they have a lot more “negotiating clout” so that premiums are not increasing as much.  Since health insurance is such a political hot button these days, I’m not surprised to see the whole issue being used by both the Democrats and Republicans to push through their agendas regarding a health care reform and specifically the public option.

Health insurance for the self employed was not specifically mentioned in the article, but given the current environment I’m sure that rates are going up there dramatically too.  Readers, if any of you are self employed and facing renewal of your health insurance, please let me know what kind of increases you’re being quoted.

Susan Martin, Small Business Financial Management