Strong Business Sense with Healthy NY Insurance Plan

The Healthy New York insurance plan was established as a result of the Health Care Reform Act of 2000 with the principle of encouraging small employers to purchase reduced cost group health insurance coverage for their employees. There are many benefits of this plan that extend beyond reduced costs from the brunt of paying for a traditional group insurance plan. Healthy NY also offers the coverage to the employer’s family. Dependents that qualify through the Healthy NY plan are children up to 19 years of age and students up 23 years.

Unlike most traditional group insurance plans, the Healthy NY plan also allows the employer to provide coverage to part time and seasonal employees that work less than 20 hours per week, though it is not mandated. The employer is required to cover those employees earning less than $35,500 annually, however. In order for an employer to qualify for the Healthy New York plan, they must meet several minimum criteria.

First, the small employer must be located in the state of New York with less than 50 employees. Of these employees, 30% of them must earn wages lower than $35,000 annually. The last prerequisite is that in the last 12 months, the employer must not have had provided health insurance coverage to its employees. If accepted, the employer works with the insurance provider to select the benefit package that best fits the company. In cooperation with the Healthy NY provider, the employer then must verify that 50% of the employees will participate and contribute to at least half of the premium and all employees working more than 20 hour weekly are covered.