From the bad news for small businesses department comes this story. There are several carriers claiming that healthcare costs keep going up so they must raise rates for their plans that are offered by Covered Calfornia. So, although they raised their rates last year and this year, they now want to raise them by 13% next year.
That’s 3x the increase of the last two years. Read more about it from the San Mateo Daily Journal here. I cover the health plan for one of my employees and hope to do so for the other one soon, but I have to say that a big hike in the rates next year is going to hurt.
If you have questions about health plan options, I highly recommend a chat with my broker, Julie Foster. She’s a whiz when it comes to understanding the overly complex and costly world of health insurance plans for businesses.
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