Oak Creek Insurance Agency

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IN: Understanding Your Health Coverage

Dear Valued Customer,

This issue of the “—————-” is focused on understanding your health coverage.

Health coverage pays for provider services, medications, hospital care, and special equipment when you’re sick. It’s also important when you’re not sick. Marketplace coverage includes preventive health services like immunizations for children and adults, annual doctor visits for women and seniors, screening and counseling for people of all ages, and more. The best news – it’s free.

Read on to learn the four  things to know about your health coverage, what to do if your health plan is cancelled, how to save on monthly premiums, and more.

We appreciate your continued business and look forward to serving you.

Kind regards,

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Understanding Your Health Coverage

Workers_MatureBusinessMenDiscussionHealth coverage pays for provider services, medications, hospital care, and special equipment when you’re sick. It’s also important when you’re not sick. Marketplace coverage includes preventive health services like immunizations for children and adults, annual doctor visits for women and seniors, screening and counseling for people of all ages, and more. The best news – it’s free.

Here are 4 things to know about your health coverage:

  1. All Marketplace health plans must provide you with a Summary of Benefits and Coverage, which includes coverage examples showing how the plan might help pay for services.
  2. The actual costs and care will vary by your health care needs and your coverage.
  3. You can use our glossary to understand key terms like copayment, deductible, network, and premium.
  4. If you have questions about your coverage, you can contact your health plan, state Medicaid program, or Children’s Health Insurance Program (CHIP) to get more information.

See why it’s so important to have health coverage and share what you learn with your family and friends.

Source: HealthCare.gov, “Understanding your health coverage.” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/blog/understanding-your-health-coverage/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

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IN: Health Insurance For Businesses With 50 Or Fewer Employees

Dear Valued Customer,

This issue of the “—————-” is focused on health insurance for businesses with 50 or fewer employees.

Businesses with 50 or fewer employees may get employee health coverage in the SHOP Marketplace. Employers of this size aren’t required to offer health coverage. Businesses with 50 or fewer full-time equivalent (FTE) employees can use the Small Business Health Options Program (SHOP) to offer coverage to their employees. This applies to non-profit organizations as well. You control the coverage you offer and how much you pay toward premium costs.

Read on to learn how to enroll in the SHOP Marketplace, and what the Marketplace is all about, and more.

We appreciate your continued business and look forward to serving you.

Kind regards,

By

Use The SHOP Marketplace To Offer Employee Health Insurance

Insurance_HealthInsuranceAndGovernmentThe Small Business Health Options Program (SHOP) Marketplace helps small businesses provide health coverage to their employees.

The SHOP Marketplace is open to employers with 50 or fewer full-time equivalent employees (FTEs). This includes non-profit organizations.

If you’re self-employed with no employees, you can get health coverage through the Health Insurance Marketplace for individuals, but not through SHOP.

Benefits of the SHOP Marketplace

Big changes are coming to the SHOP Marketplace for coverage starting January 1, 2016. Learn what’s coming.

  • If your small business or non-profit organization has 50 or fewer full-time equivalent (FTE) employees, you can use the SHOP Marketplace to offer your employees affordable, high-quality health coverage.
  • You control the coverage you offer and how much you pay toward employee premiums.
  • When you compare health plans available in the SHOP Marketplace, you can choose from 4 levels of coverage. This makes it easier to find a plan that works for your business and your employees.
  • If you enroll in SHOP coverage and have fewer than 25 employees, you may qualify for a Small Business Health Care Tax Credit worth up to 50% of your premium costs. The tax credit is available only for plans bought through the SHOP Marketplace.

Learn how to apply for SHOP coverage

You can apply for SHOP coverage any time. There’s no restricted enrollment period for SHOP coverage like there is in the individual Marketplace. Visit this page for a quick overview of the SHOP application process. Then we’ll move you on to your next step.

Questions?

Source: HealthCare.gov, “Use the SHOP Marketplace to offer employee health insurance” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/small-businesses/provide-shop-coverage/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

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Overview Of The SHOP Marketplace

Workers_BusinessPeopleAboveThe Small Business Health Options Program (SHOP) Marketplace helps businesses provide health coverage to their employees.

For 2015, the SHOP Marketplace is open to employers with 50 or fewer full-time-equivalent employees (FTEs). If you have fewer than 25 employees, you may qualify for tax credits if you buy insurance through SHOP. Learn more about more about SHOP eligibility rules.

If you’re self-employed with no employees, you can get coverage through the individual market Health Insurance Marketplace, but not through SHOP.

Benefits of the SHOP Marketplace

  • You control the coverage you offer and how much you pay toward employee premiums.
  • You can choose from 4 levels of coverage to find a plan that meets the needs of your business and employees.
  • You can start coverage any time. Enroll by the 15th of the month and coverage can begin on the 1st of the following month. Learn more about buying coverage outside of Open Enrollment through the SHOP Marketplace.
  • If you buy SHOP coverage and have fewer than 25 employees, you may qualify for a small business health care tax credit worth up to 50% of your premium costs. You can still deduct from your taxes the rest of your premium costs not covered by the tax credit. Beginning in 2014 the tax credit is available only for plans purchased through SHOP.

Use the Small Business Health Care Tax Credit Estimator to find out if you qualify and how much you may save.

How to know if you qualify for the SHOP Marketplace

  • In 2015, SHOP is open to employers with 50 or fewer full-time equivalent (FTE) employees. Use our FTE Calculator to find out if you qualify to use SHOP.
  • In order to use SHOP, you must offer coverage to all of your full-time employees – generally those working 30 or more hours per week on average.
  • In many states, at least 70% of your full-time employees must enroll in your SHOP plan. (Employers who apply for SHOP coverage between November 15 and December 15 each year can enroll without meeting this requirement.)
  • There is a SHOP Marketplace in each state. You must have an office or employee work site within the SHOP’s service area to use that particular SHOP.

Get more details on SHOP eligibility rules.

Preview plans and prices now

You can browse health and dental plan information right now. You’ll see available plans and sample prices based on the number and ages of your employees.

Apply for SHOP coverage

To enroll in a SHOP plan, you’ll use an agent, broker, or insurance company. You’ll also fill out a SHOP eligibility application.

Choose your state and we’ll help you get started.

Questions?

Learn how to get help for the SHOP Marketplace.

Have questions about the SHOP Marketplace for businesses with 50 or fewer employees? Call 1-800-706-7893 (TTY: 711). Hours: Monday through Friday, 9 a.m. to 7 p.m. EST. Agents and brokers may also use this number.

Source: HealthCare.gov, “Overview of the SHOP Marketplace.” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/what-is-the-shop-marketplace/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.