Over twice as many South Carolinians have enrolled in health insurance through the Affordable Care Act compared to the last open enrollment period that was twice as long. 209,773 enrolled in the 3-month period that ended February 15th.
Nationwide 11.4 million people enrolled in private health insurance under Obamacare compared to just under 7 million last year.
This is an amazing vote of confidence by Americans in the federal law and a clear recognition of the tremendous need for affordable health insurance. The percentage of uninsured is at the lowest level it has been since records started being kept about 50 years ago.
But while the window for individual enrollment is now closed until the fall (unless a person has a life changing event or a narrow window is opened around tax time), small businesses have no deadline to obtain group health coverage through the Health Insurance Marketplace.
It is especially important for any small business with 24 or fewer employees that is currently offering workers’ health insurance or aspire to offer the employee benefit to use the Small Business Health Options Program (SHOP) section of the Marketplace. Here they will not only find competitive rates for group health insurance but they might also qualify for up to a 50% tax credit on the premiums they pay for the employees.
We at the South Carolina Small Business Chamber of Commerce want to help small business owners understand their options under the Affordable Care Act. Our staff are available to discuss the matter, provide referrals to insurance agents/brokers trained in SHOP, and conduct seminars/webinars for business organizations.
Give us a call at 803-252-5733. Let us show you how to cover your employees and save money at the same time.