Maine Small Business Health Insurance
Tucked away at the top of the country, Maine receives little attention, except as the haunting grounds for the world's most prolific horror writer. Nevertheless, small businesses in Maine could be said to be even more profitable. In 2003, the small business income in Maine amounted to $2.9 billion, spread over more than 138,000 companies. With this many small companies, it is important that employers keep their workforce happy. One way to do this is to provide health insurance. 57.3% of small businesses in the state did not offer their employees health coverage in 2003. This may change with the advent of the Health Savings Account and the reduced rate PPO plan DirigoChoice, but in the meantime, insurance carriers are working hard to help employers find plans which are affordable and comprehensive, in accordance with Maine's insurance regulations. Request a free online quote for more information on Small Business solutions in Maine >>
Maine’s Small Business Health Insurance Regulations
- Guaranteed issue and renewability is in effect; insurance carriers must offer employers of 2-50 workers the same health plans they offer other small businesses, and cannot cancel a plan due to the health status of a group member. Minimum contribution or enrollment clauses may be in effect, and eligible employees may work as little as 10 hours a week.
- Employees with no prior insurance coverage or no coverage within three months of employment are subject to a 12-month pre-existing condition exclusion.
- Insurance carriers cannot impose a higher premium due to a group's health status, claims experience, gender or policy duration. They can vary rates based on geographic area, age or industry, tobacco use or the size of the group, but only 20% above or below the community rate.
- Self-employed workers with no employees can enroll in a group plan. However, an individual plan affords the employer an opportunity to deduct some of the premium costs at tax time.
Request a free online quote for more information on Small Business solutions in Maine >>
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