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More Small Firms Drop Health Care

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posted on May, 26 2009 @ 08:11 AM
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More Small Firms Drop Health Care


online.wsj.com

Accelerating health-care premiums and sharp revenue shortfalls due to the recession are forcing some small companies to choose between dropping health insurance or laying off workers -- or staying in business at all.

Sheryl Weldon, owner of Commerce Welding & Manufacturing Co., saw health-insurance payments increase to more than $800 monthly per employee from about $200 five years ago.

About 10% of small businesses are considering eliminating coverage over the next year, up from 3% in 2005, according to a recent survey by National Small Business Association.

(visit the link for the full news article)




posted on May, 26 2009 @ 08:12 AM
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An increase of $800 for health care coverage?

I am in Canada now and how come I haven't seen anything remotely similar to this nightmare?

Are people here seeing this as well?

I don't know, seems hard to believe.

I think this can create a massive ripple effect affecting many different areas of the economy.

online.wsj.com
(visit the link for the full news article)



posted on May, 26 2009 @ 08:39 AM
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My company isn't cutting the benefit just yet, but we have been told that we are switching companies. I assume to a cheaper one. I've never been covered by Aetna, so we'll see what that brings. My company is a small, local business, so I am glad they are not cutting it completely.



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