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South Dakota Small Business Health Insurance

The state of South Dakota is experiencing a face-lift. While visitors to Mt. Rushmore are more than twice that of the state's legal residents, South Dakota is experiencing a phenomenal amount of growth. In just one year, the small business proprietor experienced a 51.7% increase in income, from $2.2 billion to $3.4 billion.

Unfortunately, with as much growth as small businesses have experienced, there still isn't enough left over for all of the state's small employers to provide their workers with health insurance. In 2003, 63,2% of small businesses could not afford healthcare for their employees. Compared to only 8.1% of the state's large employers, this gap is troubling.

The recent advent of consumer-driven health plans have helped employers lower health premium costs. In addition, insurance carriers are hard at work providing small employers decent health insurance options, in accordance with the state's insurance regulations.

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Featured South Dakota Small Business Health Insurance Providers

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

• Celtic Insurance Company
  
  
• Medica
  

South Dakota’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. Carriers may require that a certain percentage of employees be enrolled in the plan, or that the employer contribute a pre-determined amount to the plan on behalf of his employees.
  
  
• Carriers covering small businesses can vary group premiums due to health status, age and other demographic characteristics. However, the difference in premiums between plans can only vary by so much.
  
  
• The self-employed worker cannot enroll in a group plan. With an individual policy, however, they can deduct the entire cost of their premiums on their federal return.

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