Vermont Small Business Health Insurance

Specific Vermont health insurance laws govern the purchase of small business and self-employed health insurance. Often these types of health insurance policies are easier to qualify for than an individual health insurance policy, even if you are not in the best of health.

This guide:

  • Describes small business health insurance laws in Vermont.

  • Briefly explains self-employed Vermont health insurance.

  • Alerts you to a beneficial tax deduction.

We also have a guide to Vermont health insurance for families and individuals.

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Vermont small business health insurance regulations

According Vermont health insurance laws, small group health insurance must be sold to any small business wanting to buy it. In addition, a small business with 2 to 50 employees must be offered the same Vermont small business health insurance policy the insurance company sells to other small businesses.

Vermont health insurance laws also make it mandatory for insurance companies to offer two common health policies having the same benefits but different payment options to any small business.

However, there are two requirements Vermont health insurance companies must have. First, health insurance companies may have minimum enrollment requirements for Vermont small business health insurance. If the insurance company implements this rule, a certain percentage of employees or members must purchase health insurance or the policy will be rescinded.

Second, Vermont health insurance companies can make it mandatory that the employer pay a specific amount of all employee's health insurance premiums before agreeing to sell the group a Vermont small business health insurance policy.

Besides regulating who is eligible for Vermont small business health insurance, Vermont health insurance laws make it illegal for any health insurance company to charge higher premiums due to the insured group's health status. However, premiums can vary according to the group's age or gender.

Finally, Vermont health insurance companies cannot cancel any Vermont small business health insurance policy because an insured employee becomes ill.

Self-employed Vermont health insurance regulations

States have different rules for dealing with health insurance for the self-employed. In Vermont, the owner of a small business cannot purchase a Vermont small business health insurance policy if there are no other employees.

However, a self-employed individual enjoys the same protections as a small business group is guaranteed.

Also, any self-employed individual who purchases Vermont health insurance can claim a portion of the premiums as an itemized deduction on their year-end tax return.

More VT small business health insurance help

If you want more help getting the a good health insurance policy, read our guide to small business health insurance.

To find out more about VT group health insurance laws and regulations, visit the official website of the Vermont Department of Banking, Insurance, Securities, and Health Care Administration.

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