The cost of insurance for small companies has increased rapidly over the last few years. Small groups and businesses in Colorado and throughout the rest of the nation are feeling intense financial pressure from growing health and life insurance premiums. In fact, small companies with an average of ten employees have seen rates jump twice as fast as inflation. Small companies have been proportionately more affected by these growing costs than larger companies. According to a study conducted by the non-profit research group, Commonwealth Fund, employees of small companies and groups pay 18 percent more for their health and life insurance than employees of large firms. Accounting for 80% of total U.S. employment, America’s small companies are responding to such burgeoning insurance prices by urging political action. Voicing their concern through influential groups such as the National Federation of Independent Business (NFIB), many small business owners declare healthcare to be their number one voting issue for the 2008 election. And the candidates are listening. . .
All the presidential contenders have acknowledged small business heath insurance as an important issue. A number of solutions are being explored such as requiring individuals to be responsible for their individual and family insurance, and letting small businesses pool together their resources to gain leverage with insurance providers. New York Senator Hillary Clinton proposes an exception for small businesses regarding their obligation to provide funding for employee health and life insurance.
Regardless of what option is chosen, the small business sector will have an important influence in the upcoming election - and upon the future of insurance for individuals and families in Colorado and throughout America.

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