Health coverage is a major decision for small businesses. When looking for a plan that fits the needs of your business and employees, you should carefully consider things like the cost to you and your employees, and the health services covered.
For a basic guide on some health insurance products and services that may be available to small businesses, check out these resources. You can also contact a licensed agent or broker for more help.
SHOP is for small employers (generally those with 1-50 employees), who want to provide health and/or dental insurance to their employees. Purchasing insurance through SHOP gives employers choice and flexibility in offering their employees a quality health plan.
Enrolling in a SHOP plan is generally the only way for an eligible small employer, including non-profits, to claim the Small Business Health Care Tax Credit.
Are you self-employed or a sole proprietor?
Business owners with no employees can use the Marketplace for individuals and families to enroll in a health plan that best fits their needs. Learn more about coverage options for self-employed individuals here.End highlighted text
Small employers who don’t offer group health coverage to their employees can help employees pay for medical expenses, including premiums for Individual Marketplace coverage, through a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA).
There are various health plans that are designed to give individuals tax advantages to offset health care costs. These include: Health Savings Accounts (HSAs), Health Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs).
An association health plan allows small businesses, and certain self-employed workers, to band together by location or industry to obtain health coverage as if they were one large employer.
Short-term, limited-duration insurance is a type of health insurance coverage in the individual market that was primarily designed to fill gaps in coverage that may occur when an individual is transitioning from one plan or coverage to another plan or coverage, such as in between jobs.
These products are not considered Marketplace coverage and they may not be available in all states. They may cover different benefits than Marketplace plans and you won’t be able to qualify for premium tax credits.