Employee demand for affordable health insurance is rising, but rates and service costs are going in a different direction. This has owners of small-and medium-sized businesses (SMBs) worried that they can't find a solution that fits their unique needs. When employers are uncertain about price increases year-over-year (YOY), they are afraid to make promises to their employees. It's difficult to commit to subsidizing one year of coverage knowing rates will likely rise exorbitantly the following year; imagine what these increases can do to the morale of a company.

National insurance premiums are rising every year as a result of more expensive drug treatments, higher drug costs for private plans, and inflation's impact across all industries. It's not uncommon to see increases of 15% to 20% or more YOY – we've even seen annual increases of 40% to 60%!  As a result, SMB owners are not able to plan for these inconsistent increases. When employers don't have a health care plan that meets their unique needs, they often struggle to compete for top talent, as employees will quickly move on to the next job that boasts better benefits. Experienced brokers and benefits advisors  know that the average employee earns $15 to $20 an hour, and high deductibles and extreme out-of-pocket costs make it impossible to afford health care for themselves, let alone their families. 

The solution is community-driven collaborations between SMBs, brokers, local hospitals, and grocery store pharmacies. Entrepreneurs are the bedrock of every American community, and we must work together to address their health care needs. From taking care of employers and employees to matching out-of-pocket (OOP) costs to what they can afford, smart collaborations are the best solution for SMB owners and their employees.