Small Business Employees
- Can an employer offer health insurance to part-time employees?
Yes, that’s an option. However, doing so may prevent part time employees and their families from accessing tax credits on the individual marketplace.
- Can an employer offer SHOP plans to his employees who live or work out of state?
Yes, an employer must offer SHOP to all his/her FTEs in or out-of-state.
- Can I still qualify for subsidized coverage on the Individual Marketplace if I have been offered coverage by my employer?
If the coverage offered to you by your employer is deemed unaffordable based on your household income, you may be able to enroll in a health plan with cost savings through My Arkansas Insurance on the Individual Marketplace. You can learn if you are eligible for financial help on the Individual Marketplace by indicating your household income on the form used to create your enrollment.
- Does the SHOP Marketplace offer any costs savings or financial help?
Yes. The SHOP Marketplace offers both costs savings and financial help to employers and their employees.
- What are the benefits of enrolling in SHOP plan from my employer?
Enrolling in an Arkansas SHOP insurance plan through your employer ensures that you will receive certain benefits, including:
- Plans will cover at least 60% of total cost of care
- Plans will share payment of your premium with your employer
- Plans feature no annual or lifetime limits on care
- You will not be denied coverage based on a pre-existing condition, health status or gender
- Plans meet the established essential benefits for quality health coverage
- What if an employee wants to waive coverage?
Employees who wish to waive their employer’s coverage offer must first create an account on the Arkansas SHOP website and verify his or her employer. Once you verify the employer and begin the application process, the employee may then opt to waive coverage. If an employee has started the application process and decides to waive coverage later, he or she will have the option to waive the coverage at the end of the plan selection process by selecting “WAIVE” instead of submitting the application.
- What is My Arkansas Insurance?
My Arkansas Insurance is the Arkansas Small Business Health Options Program (SHOP). SHOP is a health insurance marketplace for small businesses and their employees. My Arkansas Insurance, which opens November 1, 2015, offers a suite of tools that enables one-stop shopping for health insurance for employers with 2 to 100 full-time employees who work on average 30 or more hours a week.
- What is the deadline to sign up for My Arkansas Insurance SHOP?
My Arkansas Insurance opens for small businesses on November 1, 2015. The marketplace will remain open for employers to shop around and select plans to offer their employees. The employer determines the period employees have to enroll in the offered plan.
- When an employee has selected his/her plan, when will that information be made available on My Arkansas Insurance?
Once an employee has selected their plan, the enrollment process will not be complete until the employer submits the enrollment application through the Employer Portal of the Arkansas SHOP website. In order to submit the employer’s application, there must be at least 75 percent participation among employees. The information about the plan will be posted after the application is approved and before the plan becomes active, so it may take some time before the information is online.
- When an employer creates his or her profile with My Arkansas Insurance, which name should be listed to appear on SHOP?
When completing the employer’s SHOP profile, employers should remember to list the name of their company in the space designated “Name as it appears on SHOP” and not his or her first or last name. This will be the name used in all materials shared with employees related to the coverage offer.