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West Virginia Small Business Health Insurance

Business owners who make their home in the mountain state do so not because it is especially lucrative; rather, they come because the state is the epitome of the diversity of America. Rural and urban settings intermingle here, as do small businesses and their larger counterparts.

The major industry, of course, is coal mining. Second to this sector is oil and gas production. Since small businesses represent a smaller percentage of the state’s workforce than the larger manufacturing companies, it is surprising to note that small business employers contributed $3271 million in health care premiums for the year 2003, a very generous 86% contribution rate.

Helping small businesses maintain this impressive figure are the state government, which enacted HSAs, and insurance carriers throughout the state, who are working hard provide the small business owner with access to group plans that are affordable and comprehensive, in accordance with the state's insurance regulations.

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West Virginia’s Insurance Regulations

• Insurers have to offer each employer of 2-50 employees the same health insurance plans they offer to other employers in the state regardless of health or claims experience of the group.

• Insurance cannot be cancelled due to illness of one member of the group, as long as the small business meets a minimum participation and contribution percentage.

• There is a limit to how much more West Virginia insurance companies can charge a small business due to the health status of members enrolled in a group plan.

• Self-employed individuals with no other workers are eligible to enroll in a small business health plan. In addition, a percentage of the premiums paid are deductible (up to 90%).

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