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Rhode Island

Rhode Island Small Business Health Insurance

This page:

  • Lists health insurance policy regulations.

  • Describes your insurance rights in Rhode Island.

  • Explains interim health insurance in Rhode Island.

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

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Rhode Island small business health insurance regulations

All small businesses are eligible to purchase Rhode Island small business health insurance. Also, if a small business has between 2 and 50 employees, Rhode Island 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 requirements or they risk policy cancellation. In Rhode Island, health insurance companies can require that a certain number of your eligible employees purchase the Rhode Island small business health insurance policy and that the employer contributes a specific amount toward his employee's premiums.

The cost of Rhode Island small business health insurance based on the group's health status, family composition, age, and gender. Rhode Island health insurance laws limit the amount the cost can fluctuate due to family size and health as well as limiting the amount health insurance premiums can increase annually. However, age and gender can cause steep hikes in the price of Rhode Island small business health insurance.

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

Self-employed Rhode Island health insurance regulations

States have different rules for dealing with health insurance for the self-employed. In Rhode Island, the owner of a small business is not permitted to purchase a Rhode Island small business health insurance policy, unless it is from Blue Cross Blue Shield.

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

If you chose purchase a Rhode Island small business health insurance policy from Blue Cross Blue Shield, the protections and advantages of having small business health insurance is guaranteed to you.

Finally, the big advantage of being self-employed and purchasing your own health insurance, is that you can take a tax deduction for the cost of 70% of your health insurance premiums in 2002, and 100% from 2003 and on.

More RI 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 RI group health insurance laws and regulations, visit the official website of the Rhode Island Department of Business Regulation.

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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.