Healthcare Industry News > Small Business Health Insurance Declines

Small Business Health Insurance Declines

Although the availability of Health Savings Accounts (HSAs) was touted as an affordable way for more small businesses to offer health care benefits to their workers, the number of employers with fewer than 200 employees who provide medical coverage continues to dip.  In a survey of 3,000 small businesses, only 61% offered health care benefits – down 2% from the previous year.  About 7% of employers with fewer than 500 workers have made HSAs available to their staff but that number reflects a 2% increase from 2006.  However, it’s still a long way from the 41% of employers with more than 20,000 employees who do offer these plans.

Most employers who do use the HSAs see big savings.  Even though Scott Hauge, President of CAL Insurance & Associates in San Francisco, contributed $1,850 into the accounts of each of his 31 workers, he still reduced his health insurance costs by $30,000.  About one-third of employers offering HSAs to workers do not offer any type of contribution.  With those that do, the average contribution was just over $600.

Read Original Story on www.usatoday.com  

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