Guide to Securing Employer-Sponsored Health Insurance Plans
Learn how small businesses can access affordable employer-sponsored health plans through the SHOP program. This guide covers eligibility, plan options, and tips for making informed enrollment decisions, helping businesses provide valuable health coverage to their employees efficiently and cost-effectively.
Business owners with full-time operations employing at least one full-time equivalent (FTE) staff member are eligible to access the Small Business Health Options Program (SHOP). This program enables employers to provide cost-effective health insurance options for their employees. Companies with 1 to 50 employees can participate in SHOP, making it an attractive choice for small businesses seeking coverage.
Government incentives promote SHOP enrollment for four key reasons:
SHOP offers extensive flexibility and choices, allowing employers to select from multiple plans, include dental coverage, decide on employer premium contributions, extend coverage to dependents, and set waiting periods for new employees.
Detailed information about SHOP plans and costs is available on the official website, helping employers compare options, identify the most affordable premiums in their region, and verify eligibility.
Assistance from insurance agents, brokers, or providers can facilitate enrollment. Visiting the official SHOP website provides additional guidance and resources.
If your business has fewer than 25 FTE employees, enrolling in SHOP can qualify you for the Small Business Health Care Tax Credit, resulting in significant savings.
Eligibility criteria for SHOP include:
Your organization must have a physical presence within the state offering coverage.
At least one FTE employee must enroll, excluding owners, partners, or spouses of owners.
Your business or non-profit must have between 1 and 50 FTE employees.
All FTE employees must be offered SHOP coverage.
