New law may deter Maryland small businesses from self-funding health insurance

Date: June 02, 2015

A new law went into effect on Monday, June 1 that will make it more difficult for small businesses to self-fund the insurance plans they offer to employees. This new law changes the point at which stop-loss insurance takes over from $10,000 to $22,500, with an aggregated attachment point of 120% of expected claims, up from the current 115%.

NFIB strongly opposed this legislation and with partner organizations successfully lessened the sting of the bill as it made its way through the General Assembly. The original draft of the bill proposed a limit of $40,000 with an aggregated attachment of 125%. It’s also important to note that the bill requires a study on the issue and a 2018 sunset on the new rates, meaning once the two-year study is complete, new legislation will need to be enacted. 

 

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
10 a.m. – noon
Wor-Wic Community College
FOH Room 103 A-B-C
32000 Campus Drive

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

 

 

Media

 

Related Content: Small Business News | Maryland

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