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Idaho Small Business Health Insurance

There are different Idaho health insurance laws regarding small businesses or the self-employed. 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 Idaho.

  • Briefly explains self-employed Idaho health insurance.

  • Alerts you to a beneficial tax deduction.

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

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Idaho small business health insurance regulations

Idaho small business health insurance laws require Idaho health insurance companies to sell any small business a group health insurance policy. Also, health insurance companies must offer three state standardized plans any eligible Idaho small business.

Also, if a small business has 2 to 50 employees they must be offered the same Idaho small business health insurance policy sold to other small businesses.

Idaho health insurance companies, however, can mandate minimum participation requirements. Under this stipulation, a certain percentage of employees or members must purchase the offered health insurance policy or the entire health insurance policy for the small business will be rescinded.

Furthermore a stipulation requiring that the business owner contributes a specific amount toward his employee's premiums can also be instituted by Idaho health insurance companies.

In addition, the price of Idaho small business health insurance is only somewhat limited. Premiums for Idaho small business health insurance can be more due to the group's health status, age, gender, and other factors.

However, as a protection for groups insured under small business health insurance, Idaho health insurance regulations due not allow policies to be canceled because one of the insured individuals falls ill.

Self-employed Idaho health insurance

States differ in their treatment of self-employed health insurance. As a self employed business owner living in Idaho you can not purchase small business health insurance if you have no other employees. Instead you should look into purchasing an individual Idaho health insurance policy.

If you are self employed, however, and you purchase your own individual Idaho health insurance policy, you can benefit from a large tax deduction. A percentage of your annual Idaho health insurance premiums is deductible from your taxes if you choose to itemize. Depending upon the year, you can deduct either 70, 80 or 90 percent of your premiums.

More ID 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 ID group health insurance laws and regulations, visit the official website of the Idaho Department of Insurance.

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This internet site provides information of a general nature for educational purposes only and is not intended to be legal advice. We make no guarantees as to the validity of the information presented. Your particular facts and circumstances, and changes in the law, must be considered when applying insurance law. You should always consult with a competent insurance professional licensed in your state with respect to your particular situation.