Group Insurance
Small Group Business Insurance
| Feature | Value |
|---|---|
| Eligibility | Fewer than 25 full-time equivalent (FTE) employees, average employee salary is about $56,000 per year or less, pay at least 50% of full-time employees' premium costs, offer SHOP coverage to all full-time employees |
| Tax credit | Up to 50% of the costs you pay for your employees' premiums (35% for non-profit employers) |
| Plans | Qualified Health Plans (QHPs) for small businesses |
| Enrollment | Work directly with agents and insurance companies to shop for and enroll in Access |
See if you qualify for tax savings!
How to qualify for the tax credit:
- You have fewer than 25 full-time equivalent (FTE) employees
- Your average employee salary is about $56,000 per year or less
- You pay at least 50% of your full-time employees' premium costs
- You offer SHOP coverage to all your full-time employees
How to enroll in SHOP:
- The State-based Exchange does not provide a portal for SHOP enrollment. Employers would work directly with agents and insurance companies to shop for and enroll in Access.
- However, there are portals available for agents to help with the Federally Facilitated Marketplace (FFM) SHOP coverage.
The Small Business Healthcare (SHOP)
Enrolling in a Small Business Health Options Program (SHOP) plan is generally the only way for a small business or non-profit to claim the Small Business Health Care Tax Credit. To qualify for the tax credit, all the following must apply:
- You have fewer than 25 full-time equivalent (FTE) employees
- Your average employee salary is about $56,000 per year or less
- You pay at least 50% of your full-time employees' premium costs
- You offer SHOP coverage to all your full-time employees. (You don't have to offer it to dependents or employees working fewer than 30 hours per week to qualify for the tax credit.)
SHOP Access enables qualified employers to provide their employees with affordable, flexible, and convenient health coverage. , Access SHOP plans are certified by the State-based Exchange as Qualified Health Plans (QHPs) for small businesses.
You may qualify for the Small Business Health Care Tax Credit that could be worth up to 50% of the costs you pay for your employees’ premiums (35% for non-profit employers).
There are several options in for small businesses to offer affordable, comprehensive health coverage for their employees. Small businesses can shop directly with an agent or insurance companies to select off-exchange small group plans, or they may use the SHOP program.
We are qualified to provide employees with affordable, flexible, and convenient health coverage. SHOP plans are certified by the State-based Exchange as Qualified Health Plans (QHPs) for small businesses.
See if you qualify for tax savings!
Qualified employers with 50 or fewer full-time equivalent (FTE) employees can offer Access SHOP plans to their employees. When applying for Access SHOP, FTE employees are counted using the following method:
- Full-time employees that work at least 30 hours per week in any month are counted as one full-time employee. This amount is added to the number of part-time employees.
- Qualified employers in with 50 or fewer full-time equivalent (FTE) employees can offer Access SHOP plans to their employees.
- When applying for Access SHOP, FTE employees are counted using the following method:
- Full-time employees that work at least 30 hours per week in any month are counted as one full-time employee. This amount is added to the number of part-time employees.
How to Enroll in SHOP
The State-based Exchange does not provide a portal for SHOP enrollment. Employers would work directly with agents and insurance companies to shop for and enroll in Access. However, there are portals available for agents to help with the Federally Facilitated Marketplace (FFM) SHOP coverage.