As lawmakers grapple with the intricacies of a national healthcare overhaul, many small-business owners are facing a healthcare struggle of their own: determining a suitable health insurance plan for their company.
A new survey reveals that many executives at small firms in the U.S. lack the confidence and know-how to pick a health insurance policy that will meet the needs of their employees and their company’s bottom line.
Of the 500 executives surveyed by the National Association of Insurance Commissioners (NAIC), 64 percent said they don’t feel confident choosing a plan, and 60 percent said they’re unsure of how their taxes would be affected if they shell out to cover a portion of their employees’ health insurance.
More discouraging still, one-third of small business execs who responded said they can’t afford to provide health coverage for their workers.
With employer-sponsored insurance premiums up 119 percent over the past decade, according to another recent study, the odds are certainly stacked against small businesses and their employees.