The average cost for small business health insurance in Washington state is $517.37 per individual covered each month, according to 2022 filings with the Washington Office of the Insurance Commissioner. You can see the publicly available rates filed by each company on its website.
The median cost per person each month is $523.01, with average costs from different health plans ranging from more than $400 to more than $600 each month.
Using the average cost, a company with 5 employees could expect to pay around $2,586 a month or $31,042 a year to cover their employees’ healthcare. It’s important to note that these are averages and costs vary between different health plans and in different parts of the state. Expect some variance on this estimate.
Why should you offer a health plan at your small business?
Here are just a few of the many benefits.
- 21% of employees would consider switching jobs for better healthcare benefits according to a recent Premera study
- You might be eligible for a tax credit
- 89% of workers prefer better benefits to more pay
- 89% of small business owners currently hiring have trouble finding the right talent
- Health insurance is the number one benefit to employees; you’ll retain and attract talent
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