Are you a small business owner who employs less than 50 full-time employees? If so, the SHOP marketplace is available to you! If you employ less than 25 full-time employees, you may even be eligible for tax credits! Here’s all you need to know about the SHOP marketplace, and how it can benefit your business:
- SHOP stands for the Small Business Health Option Program.
- There are up to 4 different levels of coverage that you are authorized to choose from to ensure you are getting the proper coverage for your employees.
- Your policy can begin right away! If you enroll before the 15th of the month, your policy can start as soon as the 1st of the next month.
- For small business owners who employ less than 25 employees, you are eligible for a tax credit that can amount to almost 50% of your premium rate.
- You are in charge of how much coverage you get, and how much you contribute to employee premiums.