SHOP Marketplace: 8 Things You Can Do to Get Ready

The SHOP Marketplace makes it possible for small businesses to provide qualified health plans to their employees. No matter what state you do business in, you’ll have access to the Small Business Health Options Program (SHOP) Marketplace.

Starting November 2014, you and your employees will be able to visit HealthCare.gov to enroll online for coverage starting January 2015.

The tips below will help you get ready:

1. Learn about SHOP.

You’ll want to understand how SHOP works, which businesses qualify, and how using SHOP can benefit you and your employees. Use the SHOP Full-time Equivalent Employee Calculator at HealthCare.gov/fte-calculator/ to see if you qualify.

2. Talk to your employees.

Find out your employees’ coverage needs. This will help you with your coverage decision and you’ll get an idea of how many employees might participate.

3. Preview health plans that may be available to you.

Use the Premium Estimator Tool at HealthCare.gov/find-premium-estimates/ to see plans and get premium estimates to help you set your budget.

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. Think about when to start coverage.

You’ll need to choose a month to start coverage. Consider what timing would work best for you and your employees.

6. Find out if you may be eligible for a tax credit.

The SHOP Tax Credit Estimator can help determine if your business may qualify for the Small Business Health Care Tax Credit, and if it does, how much it could be worth to you. Visit HealthCare.gov/small-business-tax-credit-calculator/.

7. Get organized.

You’ll want to have basic information about your business organized and available, like a list of employees you plan to cover, both full-time and part-time, and your tax ID number.

8. Look for help.

Licensed agents and brokers may be able to help you with your SHOP options at no additional cost to you and your employees. You also may continue using your current licensed agent or broker to buy health coverage through SHOP.