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Several carriers sell small employer health insurance. To be sure a carrier is licensed to sell small employer health insurance in New Hampshire, go to the NH Department of Insurance website. Some carriers will sell directly to you. Others will only sell through a licensed health insurance agent or broker.
You can purchase health insurance specifically designed and priced for small employers. You may apply for health insurance at any time during the year (UNLESS you are self-employed, a group of 1. Groups of one can only enroll during March and September). Carriers can offer health insurance at other times if they choose to do so or if the self-employed individual has been granted a special open enrollment period from the carrier.
If you are buying health insurance for your employees, you may choose to pay the total cost of the premium, ask your employees to share in the cost of the premium, or have the employees pay the total cost of the premium.
To apply for small employer health insurance you will need certain types of information.
Small Employer Information Needed for Health InsuranceSmall employer (group) health insurance is only available to the self-employed (group of 1) and small businesses with up to 50 employees. If you will be purchasing small employer group health insurance, you will need to complete an application form from the carrier and prove that you are a business. Each carrier has its own application form and material that must accompany it. They are available through your agent or broker or from the carrier.
- A signed application form for the business
- Wr-1/Quarterly Wage Statement or Small Business Confirmation Form
- Individual enrollment forms including the State of NH Standardized Health Form
- Waiver forms (for employees not wanting coverage through your business)
- A premium deposit
Your agent or broker will have copies of these forms and can help you understand and complete them.
Another way for small business to purchase health insurance is through an association. An association is a group of businesses, organizations, or individuals who join together for professional purposes such as professional development, advocacy, or group purchasing. An association may, as part of its activities, offer insurance products to its members. Examples of associations include the Chamber of Commerce, American Bar Association, American Association of Manufacturers, Retail Merchants Associations, Restaurant and Lodging Association, Business and Industry Association, etc.
There is wide variety in the types of health insurance offered through associations, carriers, and cost (both for the annual membership fee and for premiums), so shop wisely.
For a quick summary of the options outined above, click here.
