As outlined by the U.S. Chamber of Commerce in the article “How to Offer Health Insurance Using a PEO,” Professional Employer Organizations (PEOs) are helping small businesses navigate rising health insurance costs by providing access to more affordable group plans and relieving administrative burdens.
For many small businesses, offering health insurance can feel financially out of reach. According to a National Federation of Independent Business (NFIB) survey, 94% of small employers said that managing the cost of health insurance was a major challenge. Data from the Kaiser Family Foundation (KFF) shows that in 2023, the average annual premium for single coverage reached $8,722 at small firms—higher than the national average.
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Article with all rights reserved, courtesy of U.S. Chamber of Commerce — https://www.uschamber.com