If your accredited business is a small, MD based company, you may now be able to offer health insurance to your employees with the help of a new state program. The Health Insurance Partnership has been designed for small businesses owners who have been unable to provide health coverage for their employees. In the past, high premiums and administrative costs have prevented small businesses from providing health coverage to employees, but help is on the way next month. Under the Partnership, your small business may be eligible to receive a subsidy that helps to provide health services and rewards individuals for their efforts to improve their health and/or manage chronic disease.
You may be eligible if:
- Your business has two to nine full time employees
- Your average employee wage is under $50,000
- Your business has not offered health coverage in the past 12 months
The new Health Partnership Plan allows eligible businesses to choose from a selection of health coverage plans, and a Section 125 payroll deduction is established so employee premiums are made on a pre-tax basis. Along with the benefits of reducing your health coverage costs by as much as 50%, you are making your business more competitive and improving employee retention rate. The Health Partnership Plan allows business owners to provide affordable health coverage for their employees, and ensure their families are covered.
The program is expected to help up to 1,500 businesses in the first year; participating carriers include Carefirst, Blue Cross Blue Shield, Coventry Healthcare, United Healthcare, and Aetna.
Registration is easy! Work with your insurance agent or broker to register for the Partnership to find what plan works best for your business. Visit the Health Insurance Partnership’s website at http://mhcc.maryland.gov/partnership for more information.