Insurance is one of the larger expenses for businesses and individuals alike. According to the Kaiser Family Foundation (KFF), the average annual premiums in 2021 were $7,739 for single coverage and $22,221 for family coverage. Over the last year, the average premium for both single and family coverage increased by 4%. Even more shocking: the average family premium has increased 47% since 2011 and 22% since 2016.

ALM Small Business Adviser Logo. Courtesy photo. Join our LinkedIn group, ALM’s Small Business Adviser, a space where small business owners can gather to network, have discussions and keep up with the trends and issues affecting their industries.

With increases like these, it’s no wonder people are frustrated angry, and looking for ways to save. Recently, a business owner was explaining how angry she was because her individual health insurance plan, bought through the marketplace, had just increased premiums—again— and this time it was worse than before.

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