Erica Phillips on the high cost of healthcare for small businesses and nonprofits

Many small businesses and nonprofits in Connecticut must weigh the solvency of their business against how generous they’d like to be with employee health benefits.

Health insurance premiums are going up largely because health care costs are rising. Over the past two decades, the cost of hospital and medical care has risen faster than inflation.

Academic researchers have also attributed much of the steep rise in hospital costs in recent years to poorly functioning markets; the consolidation of hospital systems through mergers and acquisitions is reducing competition.

CT MIrror's Economic Development reporter Erica Phillips tells host Ebong Udoma what's being done to curb the costs.

You can read her story here.

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