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Indiana Small Business Health Insurance

Specific Iowa 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 Iowa.

  • Briefly explains self-employed Iowa health insurance.

  • Alerts you to a beneficial tax deduction.

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

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Iowa small business health insurance regulations

All small businesses are eligible to purchase Iowa small business health insurance. Also, if a small business has between 2 and 50 employees, Iowa health insurance companies must offer them a health insurance policy with similar benefits as ones they've sold to other small businesses.

A small business must also meet minimum enrollment and contribution requirements or risk policy cancellation. In other words, Iowa health insurance companies can require that a certain number of your eligible employees purchase the Iowa small business health insurance policy and that the employer contributes a specific amount toward his employee's premiums.

The amount Iowa health insurance companies can charge for Iowa small business health insurance can increase on the basis of the groups' health status, age, and gender, but there are some limitations to how much extra.

Finally, it is illegal for Iowa health insurance companies to cancel an existing Iowa small business health insurance policy on the basis of a illness.

Self-employed Iowa health insurance

States differ in their treatment of self-employed health insurance. As a self employed business owner living in Iowa you can not purchase small business health insurance if you have no other employees.

Instead you should look into purchasing an individual Iowa health insurance policy. If you are self employed, however, and you purchase your own individual Iowa health insurance policy, you can benefit from a large tax deduction.

A percentage of your annual Iowa 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 IA 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 IA group health insurance laws and regulations, visit the official website of the Iowa Insurance Division.

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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.