Small businesses planning to offer health insurance to their employees have up to nine insurers to choose from in the new year, and all are planning to bump their rates up.
The Washington Office of the Insurance Commissioner approved rate increases between 6.9% and 21.6% for the insurers, according to a release. Approved rate increases were based on actuarial reviews of each insurer’s financial projections and mostly reflect increases in the basic cost of healthcare.
“Despite the increase, it’s a positive sign that these small business owners have so many options for providing insurance for their employees,” said Washington Insurance Commissioner Patty Kuderer in a statement. “Our state has a competitive market, though as a country we need a more large-scale solution to address healthcare costs.”
All nine insurers also sold small group health plans for 2026. These plans are available for businesses with less than 50 employees, which are not legally required to offer health benefits.
Five of the approved insurers will offer plans in Benton and Franklin counties, with the designated increase in rates: