Changes to Arkansas SHOP
Changes are coming to Arkansas SHOP. Current Arkansas SHOP account holders have been notified of these changes in an August 2 letter. As of the deadline for Plan Year 2018, no Issuers indicated an interest in Arkansas SHOP participation. Therefore, effective September 1, 2017, access to existing SHOP enrollment and account management portals will no longer be available and Arkansas SHOP will begin transitioning existing SHOP account holders to direct relationships with their coverage provider – Arkansas Blue Cross & Blue Shield and BESTLife Dental.
Quality Health Insurance for Arkansas Small Businesses
Health insurance is important for employers and employees who want to maintain their overall health and the health of their workforce. Most people with health insurance regularly use their coverage for routine check-ups to prevent illness, which can mean a more productive work environment.
The Arkansas Small Business Health Options Program (SHOP) is a health insurance marketplace offering quality plans for Arkansas small businesses with 2 to 50 full-time equivalent employees.
Arkansas SHOP is designed for Arkansans by Arkansans who know the state’s people, businesses and their needs. Through Arkansas SHOP, small businesses can invest in the health of their employees, while also investing in the economic health of their business and their community. Cost savings may be available to small businesses for the coverage purchased through Arkansas SHOP with the Small Business Health Care Tax Credit.
Arkansas SHOP Helps Small Businesses and Their Employees
- Tax credits may be available for health insurance purchased through Arkansas SHOP.
- Potential for better rates as part of a larger group.
- Quality, comprehensive health insurance plans with major medical coverage.
- Help from local agents and brokers who are licensed Exchange Producers, with no extra costs or fees.
- Important employee plan benefits such as no yearly or lifetime limits on care and no denial of coverage based on pre-existing conditions.
- Plan choice based on your budget and your employees' needs.
Potential Cost Savings with Arkansas SHOP
- Tax credits for businesses with fewer than 25 employees that meet program requirements.
- Help for employees to avoid paying penalties for not having health insurance.
- Potential pre-tax savings for both small businesses and their employees.
There are three coverage options available through Arkansas SHOP: Gold, Silver and Bronze. SHOP offers essential employee plan benefits with no annual or lifetime limits on care. Small business owners can choose to offer coverage for:
- Employee Only - children and spouse not eligible
- Employee and Dependents - children only, spouse not eligible
- Employee, Spouse and Dependents
Offering coverage for adult and pediatric dental is also an option.
Enrolling in Arkansas SHOP
Local agents or brokers can help you with enrollment with no extra cost or fees.