Covered California Prices for Small Business to Rise 5.9%

Small business employees who get health coverage through the Covered California health insurance exchange will see an average price increase of 5.9 percent next year.

The figure announced last week affects roughly 28,000 people who work for companies with up to 100 employees.

The 5.9 percent rate increase is smaller than last year’s increase of 7.2 percent for small businesses.

It’s also smaller than the 13.2 percent increase in average premiums for Covered California’s much larger individual market, which serves about 1.4 million people.

Small employers that contract with Covered California can choose an amount to contribute toward monthly premiums, and employees can then pick from the available plans.

Related:

• UnitedHealth to Drop Individual Obamacare Plans in Multiple States
• Employees Picking Up More of Health Costs
• Geography To Play Larger Role In California Health Premiums
• How Is Obamacare Affecting Competition Among Health Insurers?

Topics California Trends Commercial Lines Business Insurance Pricing Trends