Key Trend To Watch: The economy continues to be sluggish with hiring showing dips in July through September. Small business hires down in September but Intuit economist Susan Woodward argues there were no other signs of softness in the small business labor market -- hours were up, the wage and compensation were up slightly, the fraction of people working full-time is right in the middle of where it has been for 10 years.
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Small Business Employee Healthcare Insurance: Yes Or No
Shock waves are hitting a majority of smaller businesses receiving notices about the premiums due for employee policies in 2016.
The new rates exceed 20% for many enterprises based on surveys done by Information Strategies, Inc. and other organizations.
An average 23% increases were reported in ISI’s survey of 233 randomly selected businesses under 50 employees. Other soundings surfaced similar increases ranging from 19% to 24%. One respondent reported a 49% increase.
Many companies are pondering alternatives such as providing stipends in lieu of benefits, increasing deductibles, reducing coverage to the minimums required by the Accountable Care Act, or doing away with any coverage.