LARKIN BILL HELPS SMALL BUSINESS PROVIDE HEALTH INSURANCE TO EMPLOYEES

The State Senate today passed legislation (S.205-B) sponsored by Senator Bill Larkin (R-C, Cornwall-on-Hudson) that would expand the Healthy New York program to permit more sole proprietors and small business owners to purchase the Healthy New York insurance product.

According to the legislation, small businesses and sole proprietors who currently offer insurance benefits to their employees, and employees who work for businesses that do not provide health insurance, would be eligible to purchase the newest Healthy New York policy without having to qualify under the program. One of these qualifications includes meeting certain net income thresholds. This bill raises those income limits so that more individuals and families can participate in the Healthy NY insurance program.

Under current law, only qualifying individuals and small businesses that have not offered health insurance benefits for the past twelve months to their employees are permitted to purchase Healthy NY insurance policies for their employees.

"The purpose of this bill is not to affect in any way the current Healthy NY program which is attempting to encourage those that do not have insurance to purchase it," said Senator Larkin. "We simply want to give more sole proprietors and small businesses a way to purchase a basic benefits package under Healthy NY that is more affordable and less restrictive by the state. Even without the stop loss subsidy, it is estimated that policies issued under this act will be approximately ten percent cheaper than is currently being offered in the individual and small group market.

"The continually increasing cost of health insurance is one of the biggest impediments to small business owners. It is a large problem that is affecting the entire business climate and job opportunities throughout New York State. When we created Healthy NY, we wanted to reduce the cost of health insurance for small businesses that do not offer any coverage to their employees. This bill will most certainly add to this effort.

The bill was sent to the Assembly.