NY State Of Health Small Business Marketplace (SHOP)

Description

Employers

The Small Business Marketplace (SHOP) helps employers offer high quality, affordable health insurance coverage to employees directly from NY State of Health certified Insurers. The Small Business Marketplace (SHOP) is the only place where employers can take advantage of the Small Business Health Care Tax Credit, if eligible.

You can view and compare all SHOP certified plans and premiums online, and instantly receive a small group eligibility determination.

To be eligible for the Small Business Marketplace (SHOP), your business or non-profit organization must:

• Have a physical business location in New York State
• Have between 1 and 100 FTE (Full-Time Equivalent) employees
• Offer, or intend to offer coverage to all full-time employees

If you are a small employer, there is a tax credit that can put money in your pocket. The Small Business Health Care Tax Credit benefits employers that:

• Have fewer than 25 full-time equivalent employees
• Pay average wages of less than $56,000 a year for the 2020 tax year per FTE employee
• Pay at least 50% towards available lowest cost individual medical coverage
• Offer SHOP coverage to all full-time employees working at least 30 hours per week