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It just doesn't seem fair. Health-insurance
premiums for small companies rose 14% last year - twice the rate for firms
with more than 500 employees - even though many entrepreneurs already are
opting for "bare-bones" plans in an ever-more-desperate attempt to economize.
Big employers are far more likely to to provide such extras as vision and
dental coverage; they also contribute more towards premiums and keep their
employee deductibles lower. Just how inequal is it? Take a look at the
following statistics from a recent national survey by benefits consulting
firm William M. Mercer Inc. But be warned: You may want to keep have some
antacid tablets handy.
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Small Companies |
Large Companies
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|
Small business is
less likely to supply extra coverage ...
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|
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% with Dental coverage
|
57%
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95%
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% with Vision coverage
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19%
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46%
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and more likely to
have higher deductibles ...
|
|
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Individual, in-network
|
$400
|
$258
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|
Individual, out-of-network
|
$446
|
$352
|
|
Family, in-network
|
$795
|
$611
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Family, out-of-network
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$997
|
$852
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with a higher share
of costs borne by workers.
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|
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Individual, indemnity
|
26%
|
24%
|
|
Individual, PPO
|
32%
|
24%
|
|
Individual, POS
|
35%
|
22%
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Individual, HMO
|
46%
|
22%
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Family, indemnity
|
61%
|
35%
|
|
Family, PPO
|
61%
|
36%
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Family, POS
|
61%
|
33%
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Family, HMO
|
69%
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34%
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For tips on lowering
your health-insurance costs,
click on the following frontier stories:
http://www.businessweek.com/smallbiz/news/date/9909/f990903c.htm
http://www.businessweek.com/smallbiz/news/columns/99-21/f3630059.htm
http://www.businessweek.com/smallbiz/news/columns/98-41/e3599026.htm
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