When you buy health coverage for your employees through the Small Business Health Options Program (SHOP) Marketplace, you may qualify for a tax credit worth up to 50% of your premium contributions.
Two new tools are now available in Spanish on CuidadoDeSalud.gov to make it easier for small employers to understand and take full advantage of the benefits available from the SHOP.
The new Full-Time Equivalent (FTE) Calculator helps small employers determine if they’re eligible to buy SHOP coverage for their employees, while the new SHOP Tax Credit Estimator lets small employers learn the size of the tax credit they could get for contributing to coverage for their employees through the SHOP.
Here are some key things you should know about the tax credit and applying for SHOP:
SHOP is open to employers with 50 or fewer full-time-equivalent employees (FTEs) and enrollment is open year- round.
If your state runs its own SHOP, visit your state Marketplace for information on how to calculate FTEs.
Choose your state and we’ll help you get started. If you have questions about the SHOP Marketplace call 1-800-706-7893 (TTY: 711), Monday through Friday, 9 a.m. to 7 p.m. ET. Agents and brokers may also use this number.