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Minnesota Small Business Health Insurance

Minnesota is a opportunity goldmine for small businesses. Scattered throughout the state are thousands of businesses at varying levels of development. The employers of these companies have found the most affordable state in the country to do business. In recent years, employers have seen a 9% decrease in unemployment insurance and a 40% reduction in worker's compensation costs. With employers contributing 84%of a single worker's health insurance premium in 2003, it is no wonder the state is giving small businesses a break.

The Minnesota legislature has now introduced the Flexible Benefit Plans, which will save employers up to 20% in premiums by allowing them to exempt state mandated coverage. Add to that the launching of statewide Health Savings Accounts, and small businesses are finding the path to success a bit easier. Insurance carriers are also helping the cause by offering employers plans that are affordable and comprehensive, in accordance with the state's insurance regulations.

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Featured Minnesota Small Business Health Insurance Providers

If you are looking for information on Individual or Family Plans in Minnesota, products are available from the following:

• BlueCross BlueShield of Minnesota
  
  
• HealthPartners
  
  
• Medica of Minnesota

Minnesota’s Small Business Health Insurance Regulations

• Guaranteed issue and renewability is in effect; insurance carriers must offer employers of 1-50 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 imposed.
  
  
• All insurance companies have to offer small business employers access to two mandated health plans, the co-payment type and deductible type.
  
  
• There is a twelve-month pre-existing exclusion condition on all group plans, however this period can be reduced if there is continuity of coverage.
  
  
• Insurance carriers can charge higher group premiums due to health status, occupation, claims history or geographical location. There is a limit to the variation allowed. Gender and marital status cannot be a factor in any premium cost decision.
  
  
• Self-employed workers with no employees cannot enroll in a group plan, however they can deduct up to 100% of premiums paid on an individual plan on their taxes.

Request a free online quote for more information on Small Business solutions in Minnesota >>