July 10, 2015
Should you’re a small enterprise proprietor, you understand how necessary it’s to supply high-quality, reasonably priced well being and dental protection that meets the wants of your small business and your workers. The Small Enterprise Well being Choices Program (SHOP) Market may also help you do this by providing flexibility, alternative, and the comfort of on-line software and account administration.
The SHOP Market is at the moment open to employers with 50 or fewer full-time equal workers (FTEs), together with non-profit organizations. In 2016, the SHOP Market shall be accessible to bigger companies with 100 or fewer FTEs. You’ll be able to enroll within the SHOP Market at any level all year long, and there’s no restricted enrollment interval when you can begin providing your enrollees SHOP Market protection.
Listed here are 5 advantages of the SHOP Market:
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Every part’s on-line. Go to HealthCare.gov/small-businesses/ to use for the SHOP Market, select a plan or plans, full your protection provide, handle worker participation, and pay your premiums. Your enrollees can apply on-line too.
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Versatile 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 workers’ Open Enrollment Interval is, and the ready interval earlier than new workers can enroll.
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There’s assist to use and enroll. Licensed brokers and brokers registered to work with the SHOP Market may also help you apply and enroll for protection. It’s also possible to proceed to make use of your present agent or dealer so long as they full the SHOP Market registration necessities. Working with a SHOP-registered agent or dealer doesn’t value you or your workers a dime. Once you apply, you may seek for brokers and brokers registered to promote SHOP Market plans by title and ZIP code.
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Worker alternative. In all states, you may provide one well being and one dental plan to your workers. In some states, you may select a protection class, like Bronze or Silver, and let your workers choose the plan that meets their wants throughout the class that you just select.
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It’s possible you’ll be eligible for a tax credit score. The SHOP Tax Credit score Estimator may also help decide if your small business might qualify for the Small Enterprise Well being Care Tax Credit score price as much as 50% of your premium prices. The tax credit score is on the market just for plans purchased via the SHOP Market.
See in case you qualify to supply SHOP Market protection to your workers, and discover ways to enroll.