(BPT) – Research shows that for small employers, being able to offer quality health insurance for employees is a high priority. Even so, you may be wondering about how to control costs while offering quality coverage, which policies to choose for your employees and how to enroll.
Understanding the ins and outs of insurance can be challenging. The Small Business Health Options Program (SHOP) Marketplace is here to help. Created by the Affordable Care Act (ACA), the SHOP Marketplace offers small employers (generally, those with 1 to 50 employees) an easy way to find affordable, high-quality private health and dental insurance.
Why might the SHOP Marketplace be a good option for you?
One of the biggest advantages of offering your employees quality health coverage through the SHOP Marketplace is that you could be eligible for a tax credit to make offering coverage more affordable. Employers with fewer than 25 employees may be eligible for a tax credit worth up to 50 percent of their premium contribution.
Another key feature of the SHOP Marketplace is the choice and flexibility it offers for employers. You can choose one health insurance plan, or you can give your employees the option to select from a variety of plans. You can also decide what types of coverage to offer (health, dental, or both) and whether to offer coverage to dependents. It’s your choice — you decide what works for the needs of your employees and your bottom line.
Still, you might have questions about how to navigate the process. The good news is you can get help. Registered agents and brokers are available to advise you about the quality options available. They’ll even walk you through the actual enrollment process itself.
But here’s the best news of all. To find out more about the benefits of the SHOP Marketplace, all you have to do is go visit HealthCare.gov.