Dear Business Owner &/or Group Administrator,
Now that more concrete information is being made available, we will be peppering you with some answers to your (anonymous) questions about the upcoming roll out of the Affordable Care Act. If you have questions you’d like to see answered, be sure to send them to us!
Q: What is the SHOP?
A: In short, the SHOP (Small Business Health Options Program) is the same as the “Exchange” or “Marketplace” and the names are used interchangeably. Small groups who purchase their group health insurance plans through the SHOP, will have more access to affordable care:
- Provides “Essential Health Benefits” – same level of benefits and services that are covered in most employer-based plans
- Helps employers better predict and control their health insurance expenses by deciding how much to contribute toward premium costs
- Still allows employers to withhold employees’ share of premiums through pre-tax payroll deductions
- Take advantage of the enhanced level of Small Business Health Care Tax Credits
Q: What if I do not want to purchase through the SHOP (or Exchange)?
A: You will be able to purchase health benefits directly through an insurance carrier, just as you have before. However, you can only get the benefit of the Small Business Health Care Tax Credits if you purchase your group’s benefits through the SHOP.
Whether you decide to go through the SHOP to take advantage of the Small Business Tax Credits or decide to purchase your benefits outside the Exchange, Fogle Insurance Group will be here to guide you every step of the way. We’re certified to sell in and out of the SHOP and will assist you in the best solution for your group and your business.
