“Across the country, businesses already strapped by the economy to turn a profit are sacrificing or scaling back employee health insurance plans because of their escalating costs,” The Associated Press reports.

Some stark statistics shed light on the problem.

• Small business pays 18% more than the largest firms for comparable insurance
• Many small businesses are facing double-digit rate hikes (10-15% in Ohio)
• According to the Kaiser Family Foundation, 46% of businesses with 3-9 employees offer health insurance, down from 58% in 2002

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Young adults will soon have to deal with the cost of government mandated health insurance.

Currently, a large percentage of young adults are uninsured. According to the CDC:

• Young adults between the ages of 20 and 24 are the most likely to be uninsured
• 30% of those between 18 and 29 are uninsured

In an attempt to curb this trend, Wisconsin has passed a law allowing people up to age 27 to remain on their parents’ health insurance plans unless they have access to cheaper plans through their employers.

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