West Virginia Small Business Health Insurance Specific West Virginia 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:
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Describes small business health insurance laws in West Virginia
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Briefly explains self-employed West Virginia health insurance
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Alerts you to a beneficial tax deduction
We also have a guide to West Virginia health insurance for families and individuals.
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West Virginia small business health insurance
West Virginia health insurance companies must sell small group health insurance to any qualifying small business. Also, businesses of more than 2 but less the 50 must be offered the same West Virginia small business health insurance policies that are sold to other businesses.
To qualify, a business must also meet minimum participation requirements set by your West Virginia health insurance company. Unless the minimum level of enrollment, which is a percentage of the total number of employees, is met, your West Virginia small business health insurance policy can be terminated.
Furthermore, the employer may be required to pay for a portion of the employee's premiums in order for the insurance company to sell a West Virginia small business health insurance policy to the group.
On the subject of price, it is legal for a health insurance company to charge higher premiums for West Virginia small business health insurance due to the group's health status. However, there are limits to how much policy prices can vary.
As with individual health insurance, illness can not be used as grounds for terminating a West Virginia small business health insurance policy.
Self-employed West Virginia health insuranceStates differ in how they handle self-employed health insurance. As a self-employed business owner living in West Virginia, you can purchase small business health insurance even if you have no other employees.
This means that self-employed individuals are protected by the same health insurance laws that small businesses enjoy.
On top of this, the self-employed can benefit from a significant tax deduction. A percentage of your annual West Virginia health insurance premiums is deductible from your taxes, if you choose to itemize. Depending upon the year, you can deduct either 70, 80 or even 90 percent of your premiums!
More WV small business health insurance helpIf you want more help getting the best health insurance policy to meet your needs, read our guide to small business health insurance.
To find out more about WV group health insurance laws and regulations, visit the official website of the West Virginia Insurance Commission.
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