Owners who self-fund healthcare plans face a 125 percent cost increase.
Insurance regulations that took effect in June may prevent small businesses in Maryland from self-funding their healthcare plans, meaning small business owners may soon have to pay more for coverage.
Many small business owners see self-funding as a way to offer benefits that attract quality workers while still keeping their plans’ price tags in check. But to self fund, owners now have to shell out $22,500 to an individual employee’s health claims—up 125 percent from $10,000—before stop-loss coverage kicks in.
“Employers want to take care of their employees,” NFIB/Maryland State Director Jessica Cooper told the Baltimore Business Journal. “The government and decisions like this make it harder and harder for them to do that, to provide benefits they can afford.”
Attend a Health Insurance Forum Hosted by the Maryland Insurance Administration
The Maryland
Insurance Administration will be hosting a series of health insurance
forums around the state beginning on Monday, June 22 in Salisbury. In these series of
forums, Commissioner Redmer will be reaching out to individuals, business owners such as yourself, and insurance
producers to hear opinions, questions, and concerns about all
the recent changes to the health insurance market, including the implementation of the Affordable
Care Act, changes to employee benefit plans, and options with medical stop-loss
insurance.
The meetings will be
held in a town hall format and NFIB members are encouraged to attend to
ask questions and share stories and information about the impact changes
to the health insurance market have had on your business. If you would
like to speak or ask questions, the Maryland Insurance Administration
will have a sign up sheet at the entrance of the forum from which they
will use to call
people to come up to speak. Please note, those who do not sign up to
speak will
not be called to speak.
If you plan to attend or have questions about the forums, please contact Nick
Cavey, at [email protected]
Schedule:
Monday, June 22, 2015
Salisbury, MD 21804
EASTON
3 p.m. – 5 p.m.
Talbot County Community Center
10028 Ocean Gateway
Easton, MD 21601
Monday, July 20, 2015
ROCKVILLE
3 p.m.- 5 p.m.
Montgomery College
Room TC 136
900 Hungerford Drive #110
Rockville, MD 20850
Tuesday, July 28, 2015
HAGERSTOWN
9 a.m. – 11 a.m.
Hager Hall Conference and Event Center
Crystal Ballroom
901 Dual Highway
Hagerstown, MD 21740
TOWSON
3 p.m.- 5 p.m.
location to be announced
Towson
Thursday, July 30, 2015
WALDORF
10 a.m.- noon
location to be announced
Waldorf
ANNAPOLIS
3 p.m.- 5p.m.
location to be announced
Annapolis
