This week is the National Small Business Week in the United States. It’s crucial to consider health care options as we recognize and celebrate small businesses’ accomplishments, such as job creation, innovation, and global competitiveness.
If you have a small business with less than 50 full-time equivalent employees, you have options for making insurance more reasonable, flexible, and simple to sign up for.
The Small Business Health Options Program can assist you
SHOP (Small Business Health Options Program) can assist your small business in providing quality health insurance that fits the needs of your employees while staying within budget.
SHOP has 5 advantages
- Access to tax credits: The Small Business Health Care Tax Credit can only be obtained by purchasing coverage through the SHOP Marketplace. The cost of premiums for the smallest employers can be reduced by 50%.
- Cost control: The SHOP Marketplace allows you to choose how much you want to contribute to premiums up advance. Increased medical costs or pre-existing diseases cannot be used to justify higher rates.
- Enrollment is open all year: You can enroll in coverage at any point throughout the year. When it’s appropriate for the company, it’s simple to offer insurance to employees.
- Flexible coverage alternatives: There are a variety of plans to choose from. You can allow your employees to choose from a variety of plans (if they want to) so that they can pick the best one for them.
- Assistance: Get in-person help from agents and brokers, as well as qualified navigators. They may be able to make the purchasing procedure easier. On weekdays from 9 a.m. to 7 p.m. ET, you can call the SHOP Call Center at 1-800-706-7893 (TTY: 711).
Obtain additional information
- Get an overview of the SHOP Marketplace in a few minutes.
- Visit the National Small Business Week website for more information and resources for your small business.
- Do you own a small business but don’t have any employees? If you’re self-employed, learn more about your health-care alternatives.