The 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.
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.