State Subsidies Help Some Purchase Small Business Health InsuranceAug 2008
Amid recent news that government subsidies have lowered the number of uninsured in the last year, it seems that
small business health insurance in Maryland is following a similar route.
As of October 1st, some small business owners may get state help in providing Maryland health insurance to their employees. A new program called Health Insurance Partnership will offer subsidies to cover up to 50% of premiums for small business health insurance to businesses that have fewer than nine full-time employees with an average wage below $50,000.
Those behind the subsidies believe that the program will help up to 1,500 businesses in the first year, and more in the following year.
However, the program isn't without critics. First, providing even more subsidized funding for
Maryland health insurance doesn't alleviate the tax burden on citizens, many of whom are struggling with their own medical coverage woes.
Facts on:
Maryland Health Insurance
Did you know...
Health Insurance costs have increased 84% since 2001?
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And these small business health insurance subsidies won't apply to everyone. Those business owners who already pay group rates of Maryland health insurance for their employees are not eligible for the program. For them, this might seem like a penalization of the business owners who do struggle to offer medical coverage to their employees.
But supporters point out that having more people covered by health insurance is a good thing. It boosts productivity, minimizes sick days, and helps keep medical debt lower throughout the state, since fewer sick people end up racking up medical bills they just can't pay.
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