Article from Daily Herald: Health insurance insights with 1706 Advisors

Article from Daily Herald: Health insurance premiums are going up next year. So what should suburban business owners do?  

By Gene Marks
Special to the Daily Herald

When it comes to your company’s health insurance, there’s good news and bad news.

The good news is that, according to a new report from the Kaiser Foundation, the average premium paid for family coverage stayed relatively stable in 2022 at around $22,463 per year. The bad news is that — thanks to inflationary pressures — this is soon about to change, with other surveys forecasting significant health insurance rate increases in 2023.

“I’m already starting my February and March renewals,” says Cara Kahan, the CEO of 1706 Advisors in Northfield. “And we’re seeing on average renewals between 4 and 8 percent. Inflation’s hitting everywhere.”

As an employer, providing health insurance is a critical benefit, particularly in these times of tight labor. Our challenge is to offer competitive benefits without breaking the bank. So what are some strategies for 2023 to keep our companies’ health benefits costs under control?

Read the entire article here.

For more information on solutions for individuals, families and business owners, contact Alana
For more information on solutions for employers, contact Stacy

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