Here we will discuss qualifying for health insurance for small businesses. Small business health insurance is medical, dental, and vision coverage for employees of a company or organization. Also known as an employer-sponsored plan or a group plan, small business health insurance plans are typically a lower-cost option compared to an individual enrolling in their own plan.
What are the qualifications and rules for enrolling in group health insurance?
The rules and qualifications for enrolling in a small business health insurance plan can vary by state and insurance carrier. However, generally speaking, if you meet the four criteria below, you should be eligible to enroll.
- Documentation of your legitimate business entity. This can be something like articles of incorporation, articles of organization, or a business license.
- At least one full-time employee. Certain insurance carriers require at least two employees. Often the owner counts as one employee, as long as the other employee is not the owner’s spouse.
- At least one full-time employee who chooses to enroll in the plan.
- The ability to pay 50% of the employee’s monthly premium.
Your business will likely qualify for small business health insurance if you meet these guidelines. As we noted above, certain insurance carriers and states have differing requirements. Because of this, there may need additional items required to qualify.
Group Plans Inc can help all Arizonans with all of your large or small business health insurance needs!
When should I enroll in small business health insurance?
Anytime! Unlike individual health insurance plans, there is technically no set enrollment period for group health insurance. However, open enrollment is a great time to evaluate your current health insurance coverage. The open enrollment period to enroll in health insurance plans for 2022 begins on November 1st and ends on December 15th.