Once you’re registered with the SHOP Marketplace and a client authorizes you to represent them, you’re ready to sell.
Agents & brokers: Take action
Selling insurance through the SHOP Marketplace
For a quick overview:
Follow these steps to sell
- Fill out the SHOP Marketplace application. You provide basic employer information like the organization’s name, address, and tax ID. Then verify that your client’s business meets the SHOP eligibility requirements. You get an eligibility determination immediately.
- Complete an employee roster. Complete the employee roster by entering your client’s employees on the application’s employee roster page, or by downloading the SHOP Marketplace Excel roster template, adding the employees’ information, and uploading it.
- Set the enrollment criteria. Set the amount of time your client’s employees have to respond to the offer of coverage, the date coverage will start, and the waiting period for new employees.
- Set the contribution. Help your client decide how much of their employees’ premiums they’ll pay. Your client will also decide if they’ll offer coverage to employees’ dependents.
- Choose coverage. Help your client decide if they’ll offer their employees one health plan or a choice of plans. Help them select a plan that works for their business and employees. They can offer optional dental coverage.
- Make the coverage offer. The SHOP Marketplace sends an email to all employees on the roster. The email includes an employee participation code and a link to the website where employees can accept or decline the coverage offer. They can also call the Marketplace to respond.
- Track employee participation. In most states, at least 70% of employees offered coverage must accept the offer, or be enrolled in other forms of health insurance, in order for the employer to enroll.
- Note: Employers can enroll between November 15th and December 15th each year without meeting the minimum participation requirement.
- Submit the enrollment. When all employees have responded, submit the enrollment. Employers must submit their initial payment for the coverage to take effect. (You can’t make the payment for your client.) For enrollments completed before the 15th of any month, coverage can start as soon as the first day of the following month.
- Get your commission. The SHOP Marketplace sends your information with the enrollment to the insurance company, so you’re paid promptly.