Small Business Health Options Program (SHOP)
The Small Business Health Options Program (SHOP) is a health insurance marketplace for businesses established under the Affordable Care Act. To use SHOP, businesses must have with 50 employees or fewer. Employers who contribute to their employees’ premium costs may qualify for SHOP tax credits.
Unlike the individual Marketplace, there is no Open Enrollment period, meaning SHOP enrollment is available throughout the year. However, employees cannot join a plan after the initial enrollment period unless they are new employees and qualify for a Special Enrollment Period (SEP).
Related Terms:
Special Enrollment Period (SEP)
