The Obama administration has announced a one-year delay to the online Small Business Health Options Program, otherwise known as the SHOP marketplace. The site will not be useable by small business owners until November 2014. However, small business owners will be able to purchase SHOP insurance plans through a broker or agent. According to DHS, the tax credit incentive will still be in place despite the November 2014 delay. “The main reason for you to get the SHOP eligibility determination in 2014, is to allow you, to claim the expanded the Small Business Health Care Tax Credit at the end of your tax year—as long as you also meet all the other requirements for the tax credit.”
The launch was originally planned for October 1, 2013, but technical delays and missing features prompted the launch postponement. The Washington Post reports, “Administration officials characterized the decision as one made necessary as they prioritized fixes to the individual health exchange, which the White House has promised will “work smoothly for the vast majority of users” by Dec. 1.”.
To find out more about the Health Insurance Marketplace and the impact the Affordable Care Act has on health care and your business, contact attorney Elizabeth Latchana or any member of the Employee Benefits Department.