The annual single premium (i.e. employee-only ) rate for health insurance coverage for small businesses (with less than 50 employees) in the North Central region of the United States generally run lower than average rates for similarly sized businesses elsewhere. Data from the most recent (2019) Medical Expenditure Panel Survey, a health-cost related survey conducted by the U.S. Department of Health and Human Services' Agency for Healthcare Research and Quality, reveals the following about yearly small business employee-only health premium costs in the North Central states and nationally:
| All Businesses with | Businesses with | Businesses with | |
| State | under 50 Employees | 10 to 24 Employees | under 10 Employees |
| IA | $5,989 | $5,982 | $6,159 |
| KS | $5,907 | $5,215 | $6,457 |
| MN | $6,419 | $6,402 | $7,284 |
| MO | $6,366 | $5,825 | $6,262 |
| NE | $6,402 | $6,470 | $6,456 |
| ND | $6,864 | $7,428 | $6,670 |
| SD | $6,903 | $7,483 | $6,970 |
| U.S. | $6,920 | $6,892 | $7,528 |
Source: Medical Expenditure Panel Survey Table II.C.1 - Average total single premium (in dollars) per enrolled employee at private-sector establishments that offer health insurance by firm size and State: United States, 2019
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Thank you for sharing this insight. It's interesting to see how regional differences can impact the cost of health insurance for small businesses. Lower premiums in the North Central region compared to the national average could be beneficial for small business owners, potentially allowing them to offer more affordable health coverage to their employees. It would be helpful to look at how these premiums compare across other regions, as well as any factors contributing to the cost differences. Understanding these patterns can guide small businesses in making better decisions about their health insurance plans.
ReplyDeleteI recently had the opportunity to hear several well-known healthcare speakers address these issues at the HIMSS Global Health Conference. They provided valuable insights into the cost variability of health insurance across different regions, with a particular focus on how it impacts small businesses. Speakers highlighted factors like regional healthcare infrastructure, provider availability, and state regulations that contribute to these disparities. This regional approach to analyzing health costs helps small business owners understand the drivers behind their premiums and make informed choices for their workforce. The discussions were eye-opening and underscored the importance of industry knowledge-sharing events like HIMSS in advancing healthcare affordability and accessibility.
Great insights! It's so important for small businesses to understand the impact of health premiums. This breakdown for North Central states really helps clarify the costs. Keep up the great work! Also, if anyone ever finds themselves in need of expert legal help, feel free to check out this mejores abogados de divorcio en nueva jersey It’s always great to have reliable professionals on your side!
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