Small Business Health Insurance Offers a Better Deal for Many than Individual Coverage, According to eHealth Report – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance News
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Articles
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
Sign in or register to be an INNsider.
  • Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
  • Insider Pro
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
April 24, 2019 Newswires No comments
Share
Share
Tweet
Email

Small Business Health Insurance Offers a Better Deal for Many than Individual Coverage, According to eHealth Report

PR Newswire

SANTA CLARA, Calif., April 24, 2019 /PRNewswire/ -- Today eHealth, Inc. (NASDAQ: EHTH) (eHealth.com) released a report on 2018 small business health insurance costs and trends among groups with fewer than 30 employees, along with results of a survey of small business owners who purchased group health insurance through eHealth.

Highlights from the report include:

  • Small business coverage offers lower per-person health insurance costs than individual market coverage: Average per-person monthly premiums under a small business health plan were 7 percent lower than those for unsubsidized consumers who bought a health plan on their own at eHealth in 2018 ($409 vs. $440, respectively). Annual deductibles were 31 percent lower ($3,140 vs. $4,578); people covered under small business plans were also more likely to have a Silver or Gold-level plan (78 percent vs. 42 percent of individual buyers).
  • Small business health insurance costs are more stable than the individual market: While the average per-person premium for small business coverage increased by 5 percent between 2015 and 2018, average premiums for unsubsidized individuals who bought their own coverage at eHealth during the same period saw an increase of 58 percent (from $286 in 2015 to $440 in 2018).
  • Average premiums were down in 2018, but deductibles increased: The average per-person premium for small business health insurance plans decreased 2 percent between 2017 ($416) and 2018 ($409). The average individual deductible for small business plans increased 14 percent in the same period (from $2,754 to $3,140).
  • Strategic considerations often drive adoption of small business coverage: 66 percent of small business owners say that offering coverage helps them hire and retain the best workers; only 4 percent say the repeal of the ACA tax penalty will encourage them to cease offering employer-sponsored coverage.
  • Small premium increases could blunt offers of employee health benefits: 83 percent express concern about future cost increases, with 63 percent of small business owners saying an increase of 15 percent or less in monthly premiums would make their current plan unaffordable.

Read the full report.

Related stories

  • Patent Issued for Data security across data residency restriction boundaries (USPTO 11552955): Kyndryl Inc.
  • Patent Issued for Complex composite tokens (USPTO 11553352): eBay Inc.

About eHealth
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private online health insurance exchange where individuals, families and small businesses can compare health insurance products from brand-name insurers side by side and purchase and enroll in coverage online and over the phone. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources, exceptional telephonic support, and powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online or over the phone through Medicare.com (www.Medicare.com), eHealthMedicare.com (www.eHealthMedicare.com), GoMedigap (www.goMedigap.com) and PlanPrescriber.com (www.PlanPrescriber.com).

For media inquiries, please contact:          

Sande Drew  
DMA Communications for eHealth, Inc.
(916) 207-7674
[email protected]

Lisa ZamoskySenior Director Communications, eHealth, Inc.
(917) 751-0232
[email protected]

 

eHealth, Inc. (PRNewsfoto/eHealth, Inc.)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/small-business-health-insurance-offers-a-better-deal-for-many-than-individual-coverage-according-to-ehealth-report-300837172.html

SOURCE eHealth, Inc.

Older

HSB Survey Finds Data Breaches Target More Consumers

Newer

Q&A: Hospice Hero Pamela Naumann focused on making each day count

Advisor News

  • For some, nothing to fear from taking RMDs, professor says
  • Half of investors plan to work after retirement
  • Cetera to acquire Securian’s retail wealth business
  • Study: Education level should drive decisions on Social Security, annuities
  • Former California energy company exec given 5 years in prison for $15M investment fraud
More Advisor News

Annuity News

  • Investors scrambling to lock in rates propel annuity sales to record highs
  • North American and Annexus launch new fixed index annuity
  • Producers stew as insurers slow to process life and annuity applications
  • Substitute teacher wins massive lottery drawing in North Carolina. ‘Too good to be true’
  • Brad Rhodes: An annuity product many have never heard of
More Annuity News

Health/Employee Benefits News

  • Nearly half of all gig workers have no access to health insurance
  • California offers health insurance for $10 a month. The deadline is days away
  • Amazon announces service to deliver medications to your door. Here’s how it works
  • COVID-19Another COVID ‘new normal’: more Californians dying at home
  • Seven sentenced in conspiracy to defraud federal health insurance programs
More Health/Employee Benefits News

Life Insurance News

  • Cetera to acquire Securian’s retail wealth business
  • What does Curtis 'Cousin Eddie' Smith know in Murdaugh case?
  • Alex Murdaugh's murder trial starts with cellphones, bullets
  • Prosecutors, defense argue guns, bad acts in Murdaugh trial
  • Lincoln Financial Group offers new, fully automated life product, WealthAccelerate
Sponsor
More Life Insurance News
The time is 05:48:59am test

- Presented By -

Top Read Stories

  • A Louisiana employer's health perks helped their workers lose weight. Here’s how.
  • US debt ceiling limit reached; Social Security, Medicare targeted
  • Former CEO of Texas beverage company sentenced to 10 years in prison for fraud
  • Will ChatGPT, artificial intelligence replace financial professionals any time soon?
  • LETTER: FEMA flood insurance is all but worthless
More Top Read Stories >

FEATURED OFFERS

Grow life insurance sales in 2023 with middle-market clients

Tap a new source for sales and referrals with Allianz Life Insurance Company of North America.

Don't Miss ICMG 2023

When the success of your business depends on making the right connections, ICMG is the place to be.

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Articles
  • Monthly Focus

Top Sections

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2023 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.