Insurance & Technology News
Newtek Survey: Majority Of Business Owners See Health Insurance Premiums Rising in the Next Year
Jul 31, 2012 (Close-Up Media via COMTEX) --
Newtek Business Services, The Small Business Authority, announced the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners.
According to a release, based on a poll of over 1,500 respondents, one of the key findings from the July survey is 49 percent of business owners see their health insurance premiums rising within the next 12 months. Of the remaining respondents, 13 percent see their premiums decreasing, while 38 percent believe their premiums will remain the same. Additionally, 69 percent of business owners surveyed do not plan on re-bidding their health insurance out. Only 16 percent of respondents plan on re-bidding their health insurance, and 15 percent are still undecided.
Barry Sloane, Chairman, President and CEO of The Small Business Authority, said, "Despite the fact that only 16 percent of business owners thought that they would need to re-bid their policy, which is greater than the typical sample, we believe it will be imperative for business owners to begin to plan immediately and understand all of the trends that are inherent in the new health insurance environment. It is clear to us and the market that independent business owners must purchase health insurance for themselves, their families and their employees. There is clearly a new pool of potential insureds as well as the historic legacy buyers. It is also clear to us that the market offerings will be dramatically different and changing with respect to pricing, coverage, prospective providers of health care and overall choice. Newtek 'The Small Business Authority,' through its nationally licensed insurance agency (Newtek Insurance Agency), has increased its licensed staff to handle the large number of independent business owners who are now mired in a quandary of unknowns. The amount of uncertainly in the market over health insurance and benefits exists on an unprecedented level and we stand by to service small and large employers. Business owners with one employee or 1,000 employees are welcome to call us at 855-2-THESBA to get information and quotes on their options."
Newtek Business Services, The Small Business Authority, is a provider of products and services to business.
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UPDATED 4:41 PM EST - Jun 18, 2013
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