How much does health insurance cost a small business for each of their employees?

The cost of health insurance for small business employees will vary based on a number of factors including types of plans, risk to injuries, and region in the country. According to a 2023 KFF report, the average costs per employee per month is $690.

Do I have to provide health insurance to my employees?

You only have to provide health insurance to your employees if you have 50 or more full-time workers. Those with fewer than 50 employees aren't legally required to offer coverage, but you may be eligible for valuable tax benefits if you do.

What are the penalties for not offering health benefits?

Employers with 50 employees or more that don't offer coverage that meets minimum value and affordability standards may incur penalties. Depending on what coverage you offer, the penalty ranges from $247.50 to $371.67 per month, per full-time employee.

What do entrepreneurs do for health insurance?

If you don't have any employees, you won't qualify for group plans from small business insurance providers. However, you may be eligible for an individual health insurance plan through Healthcare.gov or your state health insurance marketplace.

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