The Small Business Health Options Program (SHOP) offers a simpler way to get health coverage that fits the needs of your staff and your business. You must have 50 or fewer full-time equivalent employees and meet other requirements to qualify in SHOP coverage.
For coverage starting January 1, 2015, there are major changes that you should know about. These include applying, comparing plans, and enrolling in a SHOP plan online. Your employees will also be able to enroll in your plan online too, making the process easier for both of you.
Moreover, in some states, you have the option to offer more than one plan to your employees. This allows them to find a health plan suited for them. Registered health insurance agents and brokers will now have access to special online features making the process smoother. New SHOP online application will have the option to search for agents and brokers by zip code so you can work with a representative near you.
To get ready to enroll in the SHOP Marketplace, talk to your employees to assess their coverage needs. You can also use the SHOP Full-time Equivalent Employee Calculator to determine if you qualify based on the number of employees. There’s also a Tax Credit Estimator Tool to find out if you may be eligible for a tax credit.