Did you know that from November 15th to December 15th, small businesses can enroll in small business insurance such as SHOP Covered California, Anthem, Blue Shield, Aetna, Kaiser,California Choice and UHC insurance group health plans without meeting the Minimum Participation Rate requirement, which is often 70 % of all employees depending on the insurance carrier. Starting December 16th, your business will need to meet the state’s Minimum Participation Rate to be able to participate in the SHOP Marketplace (70% of full time employees participating). Blue Shield and Anthem have currently for the 4th quarter of 2016 lower participation requirements.
If your small business does not meet the Minimum Participation Rate (e.g. only one full time employee, less than 70% of full time employees participating), this is a great time to take advantage of the Open Enrollment Period. Covered California’s SHOP Marketplace for small businesses gives your small business a wide variety of health plan from Kaiser, Blue Shield and Health Net to choose from. Depending on the salaries of the employees, with SHOP you might be able to receive tax credits .