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How Can Covered California Help Small Businesses?

As a small business, you might not be required to offer a group health insurance plan to your employees, but you might decide that the benefits of a healthcare policy far outweigh the costs. Once you’ve decided to provide health insurance to workers, the shopping process begins. Should you search for a policy independently, or access Covered California for Small Business (formerly known as SHOP)?\r
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If your business employs between 2 and 50 people, you are eligible to participate in the Covered California for Small Business program. The program is even expanding in 2017 to allow companies with 100 or fewer employees to join, so keep that in mind for the future.\r
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Covered California for Small Business helps small companies (like yours) band together, so that they can enjoy purchasing power on the same level as larger companies. This way you, and other small business owners, can access the same protections and price breaks that larger employers have enjoyed for decades.\r
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There are many advantages to joining the Small Business program, such as:\r

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  • the program qualifies the health plans offered to you, ensuring that you are enrolling in a quality program that complies with the law
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  • each plan is rated according to quality and price, making the shopping process much simpler and smoother for you
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  • it’s easy to access tax credits, for up to 50 percent of your contribution to health insurance coverage
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  • competition among healthcare plans helps to keep costs low
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  • you will be provided with a calculator so that you can determine the cost of coverage after premium tax credits and cost-sharing reductions are applied
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  • you can choose from among PPO or HMO plans, or even allow your employees to choose
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  • your employees can opt to pay the difference for a more expensive plan
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As streamlined as the program is, many small business owners still have questions about group health insurance. Give us a call if you need help getting started. We will be happy to help you compare plans, and choose a policy that is right for both your employees and your bottom line.

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