Small business health insurance premiums will see only small bumps

Thursday, October 8, 2015

From the MINNEAPOLIS STAR TRIBUNE: The average small business in Minnesota should see a relatively small increase in health insurance premiums next year, as rates in the market continue to be more stable than for people who buy individual policies. Last week, the state Department of Commerce released data on premium rates for 2016, including average jumps of about 41 percent in the individual market. But for "small groups" that provide health insurance coverage to between two and 50 people, the average rate of increase next year will be 1.29 percent, after factoring market share projections among different insurers, Commerce said.