Wednesday, May 27, 2009
Fewer Small Employers Offer Health Insurance
Nearly 2,400 small employers in Maryland dropped health insurance in 2008, according to a survey of health insurance carriers released last week by the Maryland Health Care Commission. The report evaluated participation during 2008 in the Small Group Health Insurance Plan, used by employers with two to 50 employees. Among the report’s findings:
- Both the number of participating employers and the covered lives declined by 5 percent in 2008.
- The largest percentage drop in enrollment came from the youngest employees, in the 16 – 25 age band (-10 percent).
- There were significant premium increases for most product types with typical policy riders: Employee only HMO +9.5 percent; PPO +19 percent; HMO/HSA +59 percent; PPO/HSA -19 percent.
- Employer groups continued to migrate to HSA plans to contain costs.
- See the report here (pdf).
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