Health Insurance Costs Worry Colorado Businesses

The rising cost of health benefits has Colorado businesses worried, according to this year’s employer survey by the Lockton Mountain West Benefit Group.

In the survey, 82 percent of the businesses cited increases in health insurance rates as their top concern about the benefits they offer. Regulatory and reporting requirements were a close second.

To try to control costs for next year, employers reduced benefits, switched plans or increased employee costs. More than 65 percent of employers now use a deductible of $1,000 or more.  The cost-cutting measures lowered the projected insurance rate increase of 8 percent on average for Colorado employers to 4.4 percent.