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South Dakota

South Dakota Small Business Health Insurance

There are different South Dakota health insurance laws regarding small businesses or 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 Dakota.

  • Briefly explains self-employed South Dakota health insurance.

  • Alerts you to a beneficial tax deduction.

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


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South Dakota small business health insurance regulations

South Dakota health insurance companies must sell small business health insurance to any small business. Qualifying South Dakota small businesses must be offered the same health insurance sold to other South Dakota small business. To be eligible a small business must have employees totalling between 2 and 50.

Also, employees must meet a minimum level of participation in order to qualify for South Dakota small business health insurance. Depending upon the health insurance company, a percentage of employees must purchase the policy or the South Dakota small business health insurance policy will be terminated. Furthermore, South Dakota health insurance companies can request that the employer pay a certain amount of his employee's premiums.

If both requirements are met, South Dakota health insurance companies must sell health insurance to any small business that applies.

On a different note, the cost of South Dakota small business health insurance is only slightly limited. For instance, the price of South Dakota small business health insurance can fluctuate greatly due to health status and risk of the employees.

Finally, as with individual health insurance policies, illness can not be used as grounds for terminating an South Dakota small business health insurance policy.

Self-employed South Dakota health insurance

States differ in their treatment of self-employed health insurance. As a self employed business owner living in South Dakota you can not purchase small business health insurance if you have no other employees. Instead you should look into purchasing an individual South Dakota health insurance policy.

If you are self employed, however, and you purchase your own individual South Dakota health insurance policy, you can benefit from a large tax deduction. A percentage of your annual South Dakota 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 SD 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 SD group health insurance laws and regulations, visit the official website of the South Dakota Department of Commerce & Regulation, Division 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.