Checklist for Small Businesses

If you’re a small business owner, you’ll be able to offer your employees new health plan choices through the Small Business Health Options Program (SHOP).

7 things you can do to get ready now

1. Make sure you understand how insurance works. For example, you’ll want to understand the difference between premiums and out-of-pocket costs, like deductibles and copayments. You’ll want to compare these details to help determine which plans are right for you and your employees. Visit Understanding Insurance to learn more about how insurance works.
2. Learn about different types of health insurance. Through the Marketplace, you’ll be able to choose a level of coverage that gives you and your employees the right balance of cost and benefits.
3. Start thinking about when to begin coverage. You’ll need to choose a month to start coverage. Consider what timing would work best for you and your employees.
4. Set your budget. Think about how much money you’re able to spend for group coverage. You’ll also need to consider how much your employees can spend for their coverage.
5. Get organized. You’ll want to have basic information about your business organized and available, like a list of employees you plan to cover and your tax ID number.
6. Make a list of questions you have before it’s time to choose which health plans you’ll offer. Consider what’s most important for your budget and your employees.
7. Look for help. If you already use a health insurance agent or broker, they’ll be able to help you figure out your options. Brokers sell many different insurance products and are usually paid by insurance companies. Agents work for just one insurance company.