SHOP Marketplace till you Drop – Affordable Care Act
By: Nicole Miller, July 5, 2013
The Obama Administration has decided to delayed for one (1), year the part of the Affordable Care Act that requires mid to larger businesses to provide health insurance to their employees. The concerns are that this requirement, due to its complexity, is not yet ready to be implemented. This delay will not affect your small business if you have less than 50 full-time employees.
For all small business owners with less than 50 full-time employees, get ready for an alternative option in how you are able to shop for health insurance.
Mark your calendar and get your shopping bags ready for “SHOP Marketplace”. SHOP Marketplace stands for The Small Business Health Options Program (SHOP) and it is designed to make the process of buying health insurance easier for your company.
Enrollment can be started as early as October 1, of this year with coverage starting January 1, 2014. The benefits of this program is that it gives you, as a small business owner, the ability to choose what works for your company in terms of quality health care and cost. When I say cost, I mean to say SHOP Marketplace gives the option to choose how much is paid towards the employees’ premium.
Overall, SHOP Marketplace gives the option to compare different health plans online as the new “one stop shop.”
We know the process of healthcare and benefit administration can be confusing, daunting or plain old time consuming. Remember you are not alone. If you have questions give us a call. AMG’s Benefit Administrator can give you a hand.