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Non-profits based in Summit County, CO, are struggling to maintain adequate healthcare benefits for their employees, as premiums in the region surge considerably.
Residents and businesses of the county already pay some of the highest health insurance premiums in the country. These increased premiums hurt non-profits the most, since they have to strike a balance between serving the community and taking care of their own employees.
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One such local non-profit, High Country Conservation Center (HC3), told Summit Daily that it currently pays group plan premiums of $2,400 a month – nearly $29,000 a year – for coverage. HC3 noted that this is a double-digit increase from last year’s premiums, and revealed that the same plan will cost 35% more next year.
Another non-profit based in Summit County, Family and Intercultural Resource Center (FIRC), remarked that it is paying so much on premiums that it could have hired five more employees with the money. The increases are taking more and more out of their budget, which leaves fewer funds left for direct services to the community.
Ironically, one of FIRC’s services is that it helps local families find affordable health insurance.
Both HC3 and FIRC have estimated that their employees have to fulfill deductibles between $5,000 and $7,000 before their insurance takes effect.
Although the Affordable Care Act does not require businesses (or non-profits) with fewer than 50 full-time employees to provide insurance, many non-profit leaders believe they need to lead by example in offering health plans to their staff. They also believe that by offering these benefits, they are able to recruit and retain talented staff.
“We as an organization (need) to continue to offer the best health insurance to our employees that we can afford,” commented Jennifer Schenk, HC3 executive director.
“We’re certainly not fulfilling our mission if we can’t provide [health insurance] to our own employees,” Tamara Drangstveit, FIRC executive director, told Summit Daily. “If we can’t pay a living wage or offer benefits, we’re also doing a disservice to our community.”
Related stories:
The surprising news on how employees feel about their benefits
Group benefits likely on its way out as employers continue to skimp on coverage
