This preview shows page 1. Sign up to view the full content.
Unformatted text preview: o Division of Insurance’s survey of the small group
market reports that the number of individuals
(covered lives) able to receive health plan coverage
by their small group employer has decreased more
than 50% since 2000. This decline continues to
signal the difficulty small businesses have with the
availability of coverage due to costs.
The number of covered lives fell 7% from 2009
(287,239 to 267,411). Not surprising, the number
of small group employers participating has also declined by 10% from 2009 (37,328) to 2010
(33,734). It is estimated that 40% of small group
employers in 2010 had coverage terminated due to
nonpayment of premiums. The decrease in covered lives (18,828) in 2010 was less than half of the
loss experienced in 2009 (43,759).
Firms with 10 or fewer employees make up almost
90% of the insured small group market covering
163,000 lives (approximately 61% of the total).
Colorado is atypical in that it allows a “Business
Group of One” (BG-1s); most states only allow
group policies to be bought by two or more. The
View Full Document
- Spring '13
- The Lottery