As part of the Maine Jobs and Recovery Plan, Maine small businesses will be eligible to participate in a health insurance premium support program starting November 1^st, 2021, through at least April 30^th, 2023.  Here is what you need to know:

What is the plan?

Maine small businesses that are enrolled in a fully insured, community-rated small group comprehensive health plan will be eligible for credit on their monthly premium.

Who is eligible to participate in the plan?

• Businesses enrolled in a fully insured, community-rated small group comprehensive health plan with the following insurers:

Aetna, Anthem, CHO (Community Health Options), Harvard Pilgrim, and United Healthcare

• • There must be fewer than 50 employees enrolled in the health plan.
  • Employees hired within the plan window are also eligible to receive a credit if they are enrolled in the employer sponsored plan.
  • Other types of plans such as self-insured plans, dental or vision plans are not included in the program.

How much are monthly credits for?

• • • The expected credit amount will be $50 per adult and $30 per child (for the health plans that include coverage for a child).

The credit structure is as follows:

Note: adult and child plans provide the same credit per plan, regardless of how many children.  Children can also be considered a dependent on the plan up until the age of 26.

How is the money shared between employer and employee?

• • • Employers are required to pass credit amounts to employees in the same proportion as the current premium contributions made by each party.

For Example:

Monthly employee premium = $500

Employer contributes $250 (50%) and Employee covers $250 (50%) of premium

Amount of the credit should be split in the same 50% proportion or $25 for the employer and $25 for the employee

• • • Employer may pass along an additional amount (more than 50%) to the employee if desired.

What do businesses need to do?

• • Businesses do not need to sign up.
  • Credits will be automatically applied to your invoice directly from the insurance company.
  • Businesses will need to update deduction amounts on payroll to ensure that these credits are being applied to employees proportionally.
  • Business owners must provide an informational letter that they will receive from their carrier to their employees and post information about the plan in the workplace.
  • Employers should contact their insurance providers with any questions that they have.