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South Carolina

South Carolina Small Business Health Insurance

There are different South Carolina health insurance laws that apply to 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 South Carolina.

  • Briefly explains self-employed South Carolina health insurance.

  • Alerts you to a beneficial tax deduction.

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

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South Carolina small business health insurance

All small businesses are eligible to purchase South Carolina small business health insurance. Additionally, small businesses must be offered a state standardized health insurance policy by any South Carolina health insurance company.

Also, if a small business has between 2 and 50 employees, South Carolina 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 may be required to meet minimum enrollment and the employer a minimum contribution or risk policy cancellation. In other words, health insurance companies can require that a certain number of your eligible employees purchase the South Carolina small business health insurance policy and that the employer contributes a specific amount toward his employee's premiums.

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

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

Self-employed South Carolina health insurance

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

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

A percentage of your annual South Carolina 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 SC 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 SC group health insurance laws and regulations, visit the official website of the South Carolina 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.