Bluegrass State officials have turned on the lights at an effort to help small, struggling employers buy health coverage.
The new Kentucky Insurance Coverage Affordability and Relief to Small Employers pilot program will help eligible employers with 2 to 25 employees pay health insurance premiums.
To be eligible for the ICARE program, an employer must 50% of the employee’s premium for single coverage and have an average annual employee salary of no more than 300% of the federal poverty level.
This year, the average employee salary can be no more than about $29,400, according to a program fact sheet prepared by officials at the Kentucky Office of Insurance Regulation.
The program will pay $40 in subsidies per employee month if the employer has not offered health coverage for the past 12 months.
“The amount decreases by $10 per year over the life of the program,” officials note.
The program also will pay $60 per eligible employee per month for an employer group if at least one employee has a “defined high-cost condition,” such as diabetes or cancer. That amount decreases by $15 per year over the life of the program, officials say.
The program will provide a “health risk assessment” for all participating employees.