How the Affordable Care Act affects small businesses

The Affordable Care Act established the Small Business Health Options Program (SHOP) for small employers (generally those with 1–50 full-time and full-time equivalent employees (FTEs)) who want to provide health and dental coverage to their employees.

Certain employers can enroll in SHOP through private insurance companies, or with the help of a SHOP-registered agent or broker. SHOP plans are generally the only way to qualify for the Small Business Health Care Tax Credit to lower premium costs.

But other parts of the health care law may also affect employers including waiting periods, summary of benefits and coverage, employer shared responsibility payment, spending accounts, workplace wellness programs and reporting information on health coverage by employers and insurance companies.

HealthCare.gov has more details available here. However, to learn more about small group benefits specific to your company, please schedule an appointment with our licensed agents.