Less than half of small businesses in the United States offer benefits to their employees, the lowest level in two decades, according to new LIMRA research.
Small businesses are classified as those with between two and 99 employees.
LIMRA's study found that 78 percent of small businesses in the U.S. are family-owned, which experienced a sharper decline in benefit penetration between 2005 and 2012 than non-family-owned companies. Only 40 percent of these businesses offered insurance benefits in 2012, compared to 47 percent in 2005.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
