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Nevada Health Link Small Business Health Options Program (SHOP)

Nevada Health Link Small Business Health Options Program (SHOP). [INSERT EVENT OR COMPANY TITLE]. DATE. Agenda. The ACA and Small Businesses Nevada Health Link’s SHOP How It Works Tax Credit Resources Questions. How the ACA Affects Businesses.

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Nevada Health Link Small Business Health Options Program (SHOP)

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  1. Nevada Health Link Small Business Health Options Program (SHOP) [INSERT EVENT OR COMPANY TITLE] DATE

  2. Agenda The ACA and Small Businesses Nevada Health Link’s SHOP How It Works Tax Credit Resources Questions

  3. How the ACA Affects Businesses Businesses with 50 or fewer full time employees are eligible to use SHOP Exchange Eligible businesses with 25 or fewer full time employees can receive small business tax credit if they provide health insurance to employees Starting in 2016, businesses with 100 employees or less will be eligible to use SHOP

  4. Nevada Health Link’s SHOP

  5. Who Can Use SHOP Businesses with less than 50 full-time employees Starting in 2016, businesses with less than 100 employees Must have 75% of all eligible employees participate If an employee chooses to stay on spouse’s plan, they won’t count towards eligible employees

  6. Why Nevada Health Link Retain and attract good employees Simple way to compare many plans Gives employer complete control over plan options and contribution Compete with larger employers in ability to offer choice(s) of quality, employer-sponsored health insurance plans Can only get tax credit through Nevada Health Link

  7. How it Works

  8. Overview Enter business information and employee census on NevadaHealthLink.com Examine plan options Decide which plans to offer employees and your contribution Decide if you want to cover dependents Employees go to NevadaHealthLink.com and select a plan from your choices One easy to read bill no matter how many different plans your employees choose

  9. Plan Categories AV (actuarial value) is the average cost paid by the insurance company Deductible is the amount you pay before benefits apply All plans are certified by the Nevada Division of Insurance before they’re offered on NevadaHealthLink.com

  10. What’s Covered

  11. Online Marketplace Sample View

  12. Purchasing Models Pick the purchasing model that’s best for your business Offer as many plan options as you want Network purchase model Open shop model Metal tier model

  13. Employee Participation Employees will choose only from plans the employer selected in purchasing model Nevada Health Link will send email notifications to employees when it’s time to enroll We will also send reminder emails during open enrollment and renewal times

  14. Billing Receive one easy to read bill Deduct employee portion from payroll Match with employer contribution Cut one check, no matter how many different carriers your employees select

  15. Important Dates Can sign up on NevadaHealthLink.com starting in October 2013 Coverage starts as early as January 1, 2014 No open enrollment period for businesses, can enroll any time

  16. Tax Credit

  17. Tax Credit Could receive a credit for up to 50% of your costs Businesses with less than 25 FTEs that: Offer affordable MEC plans Cover 50% of employee’s cost (employee-only) Can claim credit for past 3 years for 35% of costs Work with your tax preparer

  18. Resources

  19. Resources NevadaHealthLink.com Training Video Talk with your insurance broker

  20. Questions?

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