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New Jersey Small Business Health Insurance

Some may suggest that small businesses in New Jersey have much to prove. The state isn't seen as a business powerhouse, even though Johnson & Johnson has their corporate headquarters there. However, small businesses are making a difference in the state. In 2000, small businesses employed more than 50% of the state's non-farm workers, which amounted to more than 1,700,000 people. It is no wonder that small businesses are lagging behind their larger counterparts when it comes to offering insurance. Insurance carriers are doing their best to help small businesses by offering plans that are affordable and comprehensive, in accordance with New Jersey's insurance regulations.

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Featured New Jersey Small Business Health Insurance Providers

• Aetna
  
  
• Horizon BlueCross BlueShield of New Jersey
  
  
• Oxford Health Plans
  
  

In addition, if you are looking for information on Individual or Family Plans in New Jersey, products are available from the following:

• Horizon BlueCross BlueShield of New Jersey
  
  
• Oxford Health Plans
  
  

New Jersey’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. They may require a 75% employee participation rate, and they may require employers to contribute at least 10% of the premium for their workers.
  
  
• In groups of 2-5 employees, a pre-existing condition of six months can be imposed on new enrollees. For those with 6-50 employees no such conditions are allowed.
  
  
• Insurance carriers must offer five standardized health plans, plus an HMO option to all small business employers. Non-standardized plans may also be offered.
  
  
• Insurance carriers covering small businesses cannot charge higher group premiums due to the claims experience or health status of those enrolled. Within limits, premiums can vary due to location of business, family size of the enrolled, gender and age.
  
  
• The self-employed worker with no employees cannot enroll in a group plan. They are eligible, however, to deduct 100% of the individual policy premiums paid on his or her tax return.

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