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Ohio Small Business Health Insurance

Specific Ohio 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. But you must be eligible.

This guide:

  • Describes small business health insurance laws in Ohio.

  • Briefly explains self-employed Ohio health insurance.

  • Alerts you to a beneficial tax deduction.

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

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Ohio small business health insurance regulations

According to Ohio health insurance laws, small group health insurance must be sold to any small business. In addition, a small business with 2 to 50 employees must be offered the same Ohio small business health insurance policy the insurance company sells to other small businesses.

Also, the owner of a small business may also be required to pay a certain amount toward each employee's premiums before the insurance company agress to sell the group a Ohio small business health insurance policy.

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

Although Ohio health insurance laws regulate eligibility for Ohio small business health insurance, the price isn't too heavily regulated. Premiums can vary due to the group's health status, age, or gender, but there are limits to how much extra you can be charged based on these factors.

Finally, an insurance company is prohibited from cancelling a Ohio small business health insurance policy because an insured employee becomes ill.

Self-employed Ohio health insurance

States handle health insurance for the self-employed differently. In Ohio, if you are the sole employee and owner of a business, you can not purchase an Ohio small business health insurance policy.

If you have more than one employee, you qualify to purchase Ohio small business health insurance.

As a self-employed individual, you are solely responsible for purchasing your health insurance. However, there is one great advantage. You can claim this cost on your taxes.

If you buy you own health insurance, you can deduct a portion of your Ohio health insurance premiums from your taxes. By itemizing your deductions, up to 80% of your premiums can be deducted.

More OH 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 OH group health insurance laws and regulations, visit the official website of the Ohio 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.