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Maine Small Business Health Insurance

There are different Maine health insurance laws regarding small businesses and 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 Maine

  • Briefly explains self-employed Maine health insurance

  • Alerts you to a beneficial tax deduction

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

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Maine small business health insurance regulations

Maine health insurance companies must sell small group health insurance to any small business that qualifies. Also, small businesses of 2 or more but less the 50 must be offered the same Maine small business health insurance policies that are sold to other small businesses.

If you qualify, your company must also meet minimum participation requirements set by your Maine health insurance company. Unless you meet the pre-set minimum level of participation your Maine health insurance company requires, your policy can be terminated.

In addition to this stipulation, some Maine health insurance companies require that an employer pay a percentage of the employee's premiums before agreeing to sell the group a Maine small business health insurance policy.

Your small business must be offered the same small business health insurance policy your health insurance company sells to other small businesses. Even though the benefits must be the same, the price can be very different.

It is illegal for Maine health insurance companies to charge higher premiums for a Maine small business health insurance policy due to the group's health status or gender. However, you policy premiums can vary according to the group's age or family size, among other factors.

As with individual health insurance, illness can not be used as grounds for terminating Maine small business health insurance.

Self-employed Maine health insurance regulations

States have different rules for dealing with health insurance for the self-employed. In Maine, the owner of a small business may be able to purchase a Maine small business health insurance policy, even if there are no other employees.

Since eligibility depends upon your specific circumstances, it's best to consult either the Maine Department of Insurance or your Maine health insurance company.

Since you may have a choice between buying a Maine small business health insurance policy or an individual Maine health insurance policy, you'll have to weigh the advantages of both.

If you choose the former, the protections and advantages of having small business health insurance is guaranteed to you.
If you choose the latter, a large part of your premiums can be deducted from your taxes.

More ME small business health insurance help

If 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 ME group health insurance laws and regulations, visit the official website of the Maine Department of Professional and Financial Regulation, Bureau 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.