How are premiums set for employers?
In addition to the benefits selected, the amount a small employer (50 or fewer employees) pays for coverage depends on:
- The average age of employees/dependents
- The benefits the employer selects
- Location in the state
- The number of family members on the plan
- Tobacco use by employees
Large employers negotiate rates directly with the insurance company; these plans' rates are not subject to state regulation.
Small employers who have received coverage through an association may find plans and costs changing as a result of new rules.