How to Qualify for Business Health Insurance
- February 02, 2021
- Doris Gray
According to the law, not all businesses are required to provide health insurance for their employees. Large companies with over 50 employees are required by law to offer health insurance to their employees. However, things have changed, and small businesses with under 50 employees can get group coverage.
Like any other insurance plan, there are some qualifications that you must meet to qualify for business health insurance Asheville NC. First, what does group health care coverage mean? Group coverage insurance, in simple terms, is an employer-sponsored insured. This means that your company pays for your monthly premiums. Usually, the employer pays half or more on the premium than the employee.
So as a business owner, how do you qualify for business health insurance?
Number of employees
Are you a small business or a large corporate company? As mentioned earlier, a company with more than 50 employees will apply for large group insurance coverage. A small business is any company with 1-50 employees. If you fall under any of the above categories, you can approach an insurance provider and get group coverage.
Type of employees
As a business owner, you will be part of the group coverage plan. However, if you have one other employee and you want a business cover, that employee cannot be your spouse, a seasonal worker, a partner, family member, or contractor. The employees should be full-time workers who work for 30hours weekly or full-time equivalent employees.
For example, three workers working ten hours per week are similar to the one who works 30 hours a week. Additionally, all employees must pass the common law test. If you have control over the work process and the finished product, then your employees are likely to pass the test.
It is possible to provide health insurance for part-time and seasonal workers. However, it is best to talk to a business health insurance in Ashville NC, before moving forward.