It seems that just about every time we turn on the TV, get online or read a newspaper there is someone telling us how the Affordable Care Act is controlling the cost of healthcare. Many small business owners strongly disagree as they look over their renewal for the coming year.
Did you know? . . . . 90% of small business owners have received renewals showing an increase in premiums and 25% of these are facing increases in the double digits! These increases are effecting small business owners across the country and in every industry. Employers have been put in the tough position of having to find balance between two competing concerns: attracting and retaining talent to help build their business while at the same time, decreasing operating costs, including controlling health care expenses. Many of these business owners now find themselves having to depend on their brokers more than ever to get creative and examine all available options in order to control benefit costs while still offering competitive benefit packages.
Several years ago as the Affordable Care Act was approaching there were many in the industry that believed the broker would be a thing of the past. As it turns out, brokers have never been more valued than they are now.