published to May 5, 2016
It’s National Small Business Week. If we are to recognize and celebrate the contribution of SMEs to job creation, innovation and international competitiveness, it is important to think about healthcare options.
For business owners with less than 50 full-time equivalent employees, there are options to make insurance more affordable, flexible, and accessible.
The Small Business Health Options Program can help
The Small Business Health Options Program (also known as SHOP) helps small businesses meet their employees’ needs and provide quality health insurance that stays within their budget.
5 advantages of SHOP
- Access to tax credits: Purchasing insurance through the SHOP marketplace is the only way to take advantage of the Small Business Healthcare Tax Credit. The smallest employer saves him 50% of the cost of premiums.
- Manage costs: The SHOP marketplace allows you to decide in advance how much you want to contribute to the premium. Due to high medical costs and pre-existing conditions, insurance premiums cannot be set high.
- Year-round enrollment: Generally, you can purchase insurance at any time of the year. So it’s easy to provide insurance for your employees when it’s appropriate for your business.
- Flexible compensation options: We offer various plans. You can let your employees choose between several (if needed) so that they can choose the plan that’s right for them.
- support: Get support directly from agents and brokers or trained navigators. It helps make the purchasing process even easier. You can also contact the SHOP call center at 1-800-706-7893 (TTY: 711).