{"id":2964,"date":"2015-12-29T10:00:50","date_gmt":"2015-12-29T15:00:50","guid":{"rendered":"https:\/\/www.insureyourcompany.com\/?p=2964"},"modified":"2015-12-29T10:00:50","modified_gmt":"2015-12-29T15:00:50","slug":"5-key-trends-in-the-small-business-health-insurance-market-for-2016","status":"publish","type":"post","link":"https:\/\/insureyourcompany.com\/blog\/5-key-trends-in-the-small-business-health-insurance-market-for-2016\/","title":{"rendered":"5 Key Trends In the Small Business Health Insurance Market For 2016"},"content":{"rendered":"

With major provisions of healthcare reform brought about by the Affordable Care Act (ACA), there can be no doubt the landscape of small business\u00a0health insurance<\/a> is rapidly changing. The premiums being charged for group health coverage are outpacing inflation and most employers are feeling the pressure of rising health care costs.<\/p>\n

It is clear that smaller employers are facing a heavier burden. Let’s look at 5 key trends in the small business group health insurance market that can affect the business landscape in 2016.<\/p>\n

1. Only 54% of small businesses offer health insurance.<\/h2>\n

The number of small employers with less than 50 employees who offer group health insurance coverage is steadily declining. According to the Kaiser\/HRET 2015 Employer Health Benefits Survey<\/a>, only 54 percent of small businesses with less than 50 employees offer any type of traditional group health insurance whereas 97 percent of employers with over 100 employees offer group health insurance.<\/p>\n

2. Many small groups remain in non-ACA-compliant plans.<\/h2>\n

There are basically two different non-ACA compliant plans:<\/p>\n

    \n
  1. “grandfathered”<\/strong><\/li>\n
  2. “grandmothered\u201d<\/strong><\/li>\n<\/ol>\n

    Grandfathered plans are those plans that were in existence prior to March 23, 1010, the date the ACA became law. These plans can stay in place as long as no significant changes that reduce benefits or increase employee costs are made.<\/p>\n

    Grandmothered plans were transitional plans intended to provide a grace period before transitioning to ACA compliant coverage. These plans can remain in force until 2017.<\/p>\n

    3. Turn to multiple strategies to control costs.<\/h2>\n

    Many small employers are considering ways to save on group health care costs, while still protecting their workforce. These strategies include:<\/p>\n