Monday, April 30, 2012
CT small businesses struggle with health benefits
A new survey by the Universal Health Care Foundation of CT found that two out of three CT small businesses can’t afford to offer health benefits to employees. A tiny fraction (6%) of small business owners who don’t offer coverage, don’t want to. Among those that offer health benefits, most have had to shift more costs onto workers. 41% say their inability to offer health benefits is limiting their growth, a majority believes that it impacts their ability to recruit and retain workers, and 28% believe this disadvantages them compared to larger companies. 60% say government should offer an alternative to private insurance. The report delves deeply into the types of coverage offered by CT small businesses and attitudes toward employee benefits. Most are unaware of federal small business tax credits for coverage. Eighty percent of CT workers are employed by small businesses.