Sponsored Post: How to Save Money on Small Business Insurance

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Small business owners in the Lower East Side, did you know that employers that treat their employees best, have a clear competitive advantage. This point of view is supported by a quick look at Googleplex and Google financials discussion on this subject. As a small business owner in NY, providing quality employee healthcare is a major factor in keeping the team (and books) healthy.

Given all the changes to the employee health insurance space and the complexity to the offerings, it is understandable that some small NY businesses have chosen to secure coverage for their employees through insurance agents and brokers, while others have decided simply to not offer health insurance at all or direct their employees to the individual marketplace exchange offered by the Affordable Care Act (ACA). But now there is an alternative…

What a lot of small business owners don’t know (but should) is that The Affordable Care Act also introduced the Small Business Health Options Program (SHOP), also known as the Small Business Marketplace in New York. It was created specifically for small businesses offering employers tax credits not offered through the individual exchange. This is a significant change to the cost structure for employers in offer health coverage to their employees.

To help make it easier for small businesses to use the Exchange (and potentially save money in tax credits through the process) some of the strongest business organizations in the city have partnered with EmblemHealth on an initiative to educate small business owners on SHOP.

Balancing the Accounts. Calculator, pen1. Easy Enrollment

Any company that has fewer than 50 employees* and a primary business address in the state of New York is eligible for small business health insurance. SHOP allows you to browse and compare plans. When you’re ready, you can choose the plans you’d like to offer and SHOP will notify your employees that it’s time for them to enroll.

2. Tax Benefits

You may qualify to receive tax credits worth up to 50% of your contribution to employee premiums. To find out if your small business qualifies, you can use the simple tax credit calculator.

3. Flexibility for Your Employees

Several options best suited for specific needs

4. Ability to Control Costs

Since SHOP standardizes cost-sharing, it’s easy for employers to choose to contribute a fixed amount or percentage to their employees’ premiums.

In addition, EmblemHealth launched a Health Care Reform Hub offering everything a small business owner needs to know about SHOP and offers a Tax Calculator to help business owners determine the tax credits that their business might be eligible for.

The platinum, gold, silver and bronze levels introduced under the Affordable Care Act offer the same benefits with different premiums and out-of-pocket costs. Because you have the freedom to offer any plan from any insurer or to limit your options, you can empower your team members to choose plans best suited to their needs and where they live. That freedom can contribute to a stable and productive workplace and can help with recruitment and employee retention.

To learn more about SHOP and the options available for your small business, click here.


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