Guide to Securing Your Employer-Sponsored Health Insurance

Learn how small businesses can access affordable employer-sponsored health insurance through the SHOP program. This guide details eligibility criteria, benefits, and enrollment options, helping employers provide comprehensive healthcare coverage to their staff. Explore how to compare plans, benefit from tax credits, and utilize expert assistance to make informed decisions about employee health benefits.

If you operate a full-time business with at least one full-time equivalent (FTE) employee, you're qualified to participate in the Small Business Health Options Program (SHOP). This program is designed for employers aiming to provide affordable health coverage for their staff. Businesses with 1-50 employees are eligible to purchase SHOP insurance, facilitating access to various healthcare options.

The government encourages small businesses to choose SHOP for four main reasons:

It offers extensive choices and flexibility, allowing employers to present employees with multiple plan options, include dental coverage, set contribution levels, extend coverage to dependents, and establish enrollment waiting periods.

You can access comprehensive information about SHOP plans via the official website to compare options, find the most affordable premiums in your area, and verify your eligibility.

Assistance from insurance agents, brokers, or providers can simplify the enrollment process. Visiting the official SHOP website also provides valuable resources.

If you have fewer than 25 FTE employees, you may qualify for the Small Business Health Care Tax Credit, saving you money.

To qualify for SHOP coverage, your business must meet these criteria:

Your organization must be based in the state where you intend to purchase insurance.

At least one full-time employee, excluding owners and spouses, must be enrolled.

Your business must have between 1 and 50 full-time equivalent employees.

SHOP coverage must be offered to all eligible full-time employees.