Costs of Employee Benefits Rising

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Costs of Employee Benefits Rising

Apr 02, 2009

Posted by Molly Nelson - According to the recently released 2008 Employee Benefits study by the U.S. Chamber of Commerce, the cost to small businesses of providing employee benefits increased significantly from 2006 to 2007 (the last year for which data is available).

Health insurance costs averaged $4,559 per employee in 2007 from $3,961 in 2006, an increase of 15 percent.  Costs of retirement and savings benefits increased 14 percent from 2006 to 2007, with the average cost per employee rising from $2,356 to $2,694.

Have you had to cut back on these or other benefits for you employees?  Let us know your thoughts in the comments.

Hat tip: Independent Street

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