When Can I Apply for Small Business Health Insurance?

When can you apply for small business health insurance? Here are four things you should know about applying for small business health insurance. You can apply at any time of the year. You need to qualify as a small business. You need to contribute toward employee premiums. And a minimum number of your employees must enroll. Let’s look at each of these in more detail. First, unlike individually-purchased health insurance plans, small business health insurance plans can be purchased at any time of year by qualifying small business owners. You may face a change in your premiums or benefits once per year. It’s a good idea to shop around when that happens. But if you’re unhappy with your coverage, you can look at new options any time of the year. Second, you generally need to have at least one full-time employee on payroll in order to qualify for coverage. If you want a group health insurance plan but you’re the only full-time employee of your company, you may still qualify in some cases if you’ve paid 1099 contractors within

the past year. The qualification details will vary based on your specific situation, the state, and the insurance company. A licensed agent can help you understand if you qualify. Third, you should know that you will need to pay at least fifty percent of the monthly premiums for your employees. The amount of your contribution can vary depending on the state where you live or the plan you pick. If your employees have dependents, like a spouse or children, you’re not required to pay premiums for those dependents. Finally, in order to qualify for small business health insurance, typically at half of your eligible employees need to enroll in the plan. But if these employees already have health insurance from another source, like a spouse’s plan, you don’t have to count them as an eligible employee when you apply for coverage. To learn more about your small business health insurance options today, visit eHealth.com.