TriNet’s recent HR Trends survey provides insight into the challenges small businesses face in offering their employees healthcare benefits.
Most shocking, of the respondents who pay at least a portion of the health care premiums of their employees, 56.8% indicated that insurance consumes at least 1-5% of total revenues; another 19.3% indicated that it consumes 6-10%. Wow.
And the cost continues to increase. 62.6% of respondents said their health care costs rose between 6-20% in the last year alone.
The survey also asked small businesses to share their expectations about the results of health care reform, once enacted. More than 70% believe reform will result in a program that is more complex than it is now and more than half fear that it will be more costly.
It’s never been easy to be a small business, but today the challenges are greater than ever. The adaptability and determination of small businesses is remarkable. Hey, we get it. We are a (very) small business too!
About TriNet
TriNet partners with small companies to help them contain HR costs, minimize employer-related risks, relieve the administrative burden of HR – and keep their focus on business success.
Tags: healthcare costs, Partners
