Published on July 10, 2015
If you’re a small enterprise proprietor, you understand how necessary it’s to supply high-quality, inexpensive well being and dental protection that meets the wants of your corporation and your staff. The Small Business Health Options Program (SHOP) Marketplace may help you do this by providing flexibility, alternative, and the comfort of on-line utility and account administration.
The SHOP Marketplace is at present open to employers with 50 or fewer full-time equal staff (FTEs), together with non-profit organizations. In 2016, the SHOP Marketplace shall be obtainable to bigger companies with 100 or fewer FTEs. You can enroll within the SHOP Marketplace at any level all year long, and there’s no restricted enrollment interval when you can begin providing your enrollees SHOP Marketplace protection.
Here are 5 advantages of the SHOP Marketplace:
-
Everything’s on-line. Visit HealthCare.gov/small-businesses/ to use for the SHOP Marketplace, select a plan or plans, full your protection provide, handle worker participation, and pay your premiums. Your enrollees can apply on-line too.
-
Flexible protection choices. You management the protection you provide and the way a lot you pay towards worker premiums. You select whether or not to supply dependent protection and dental insurance coverage. You select how lengthy your staff’ Open Enrollment Period is, and the ready interval earlier than new staff can enroll.
-
There’s assist to use and enroll. Licensed brokers and brokers registered to work with the SHOP Marketplace may help you apply and enroll for protection. You also can proceed to make use of your present agent or dealer so long as they full the SHOP Marketplace registration necessities. Working with a SHOP-registered agent or dealer doesn’t price you or your staff a dime. When you apply, you possibly can seek for brokers and brokers registered to promote SHOP Marketplace plans by identify and ZIP code.
-
Employee alternative. In all states, you possibly can provide one well being and one dental plan to your staff. In some states, you possibly can select a protection class, like Bronze or Silver, and let your staff choose the plan that meets their wants throughout the class that you just select.
-
You could also be eligible for a tax credit score. The SHOP Tax Credit Estimator may help decide if your corporation could qualify for the Small Business Health Care Tax Credit value as much as 50% of your premium prices. The tax credit score is accessible just for plans purchased by means of the SHOP Marketplace.
See when you qualify to supply SHOP Marketplace protection to your staff, and discover ways to enroll.