The Small Business Health Options Program, otherwise referred to as SHOP, is a new program that makes buying health insurance for your business easier than ever. Currently, the SHOP Marketplace is designed for and available to businesses with 50 or fewer full-time-equivalent employees. Starting in 2016, the SHOP Marketplace will be available to small businesses with 100 or fewer full-time-equivalent employees. SHOP online enrollment was delayed until November 2014, but small businesses can enroll in SHOP coverage today. An agent, broker or insurance company can help you apply for SHOP eligibility and find and compare plans. You don’t need to wait for SHOP eligibility confirmation to enroll. Contact your agent or broker, or let us help you get the right plan for your group. The deadline to enroll is always the 15th of the month for coverage to be effective the 1st of the following month. For example, if you enroll by April 15th, coverage will begin May 1st. If you enroll between April 16th and April 30th, coverage will begin June 1st.
Tax breaks – a business that offers coverage through SHOP may be eligible for a health care tax credit worth up to 50% of your premium costs**. Easy – a business can control the coverage they offer and how much they pay toward employee premiums. Guidance – a business can compare health plans online, which will help you make the right decision for your unique business.
View SHOP Plans