Plans and Rates
Coverage Plans and Participating Insurance Companies
As of January 2005, the sole participating insurance company, or carrier, for the Small Business Plan is Mountain State BlueCross BlueShield (BCBS). Mountain State's solid reputation provides peace of mind for small companies purchasing under the WV Small Business Plan.
Premium Rates
As each small business is different in relation to the demographic makeup of its employees, the type of coverage plan chosen, pre-existing medical conditions, etc., it is impossible to list accurate premium rates. But, under the Small Business Plan, rates could be lowered by as much as 17-22 percent. Remember – rates and discounts will depend on the profile of each small business.
Coverage options must meet the criteria established by the Small Business Plan under Senate Bill 143.
- Coverage plans must mirror commercially available ones. This means that Small Business Plan policies must contain all the preventive, primary and major medical services mandated by West Virginia law and in a way that would be competitive in the marketplace. When analyzing coverage options, it is easier for the small business owner to compare plans, priced at the regular rate versus priced under the West Virginia Small Business Plan.
- Any insurance company that is licensed to offer health insurance in West Virginia can offer coverage options under the guidelines of the WV Small Business Plan. The policies must be approved by the West Virginia Offices of the Insurance Commissioner and are subject to all WV laws, rules and regulations.
- Participating insurance companies must adjust administrative fees in order to help make Small Business Plan options more affordable.
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Marketing support for the WVSBP has been provided by The Robert Wood Johnson Foundation in Princeton, New Jersey.