Small-business owners far and wide are struggling with soaring health care costs, reports CNNMoney. While coverage is shrinking, group policy rates are growing—and consolidation of insurers means fewer options on policies. Meanwhile, small businesses grapple with dwindling profits and no way to pass on the high cost of health care to customers.
Some businesses choose to lay off some to afford coverage for others, while others pare down other benefits, such as vacation time or bonuses. Still others drop coverage altogether: the number of small businesses offering health care coverage shrank 9 percent from 2000 to 2007, according to the Kaiser Family Foundation.
Some are looking to the Obama administration for a major overhaul, while more resourceful entrepreneurs are getting creative. To read more about creative healthcare methods, click here.
CNNMoney: Health Care: The Hidden Business Killer