small business coverage

(1-50 employees)

Whether it is your first time shopping for a small group health insurance plan or if you currently have a plan and are shopping out new options...you have come to the right place. The Health Insurance Shoppe can assist in acquiring the below products:​​

  • Health Insurance

  • Dental Insurance

  • Vision Insurance

  • Short Term Life Insurance

  • Short Term Disability 

  • Long Term Disability

available carriers:

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request a quote

Please download the below census (Excel Doc.) and return back via email or by fax to (773) 880-8494.  Quotes can take between 2-3 days for generation, and to please allow 5 business days for a proposal on your options.

To receive quotes on Disability Coverage there must be more than 5 employees enrolling in coverage and you must include employee job titles and annual salaries on the census.

 

Each insurance carrier has different requirements for issuance and not all carriers can end up being an option.

Standard Carrier Requirements:

BCBSIL requires for the employer to contribute a minimum of 25% toward employee premiums and requires a minimum of 75% employee participation.

UnitedHealthCare (UHC) requires for the employer to contribute a minimum of 50% toward employee premiums and requires a minimum of 25% employee participation.

Aetna requires for the employer to contribute a minimum of 50% toward employee premiums and requires a minimum of 2 enrolled employees, and requires a minimum of 75% employee participation.

Small Business Special Enrollment Period (11/15/12/15) for 1/1/2021 Effective Date

Between 11/15-12/15 employers can apply for a small group health insurance policy to take effective 1/1/2021 without having to satisfy carrier contribution and participation requirements.   Please note that this only applied to Fully Insured products and not Self-Funded (Aetna).

FAQ's regarding small business coverage (Updated 11/19)
Does the Annual Enrollment Period (AEP) apply to small business coverage?

No.  The AEP is only applicable to those who obtain coverage outside of an employer.  Employers can apply for coverage throughout the year as long as required contribution and participation guidelines are satisfied.

What is the Small Business Special Enrollment Period? 

This is a special enrollment period that takes place between 11/15-12/15 of each calendar year (since 2013) that allows a small business to enroll for a 1/1 coverage effective date without having to satisfy contribution and participation requirements that are in place throughout the year.

What is the minimum number of employees electing coverage needed to start a small business plan?

One employee, as long long as eligibility requirements are satisfied.  The small business coverage market is between 1-50 enrolled employees and coverage can be bound with just one employee electing coverage.  The requirements are :

  • At least 75% Employee Participation

    • Valid Waivers of coverage do not count towards participation requirements and Valid Waivers include those covered through a spouses employer plan, those eligible for Medicare/Medicaid, and those that are under 26 and covered under their parents plan

  • Employer Contribution of at least 25% or 50% (carrier dependent) of the employee premium

Example 1: A Small business owner with 2 Full Time (FT) employees would like to acquire a plan of coverage for just one of his full time employees, as the owner and one of the employees have coverage through their spouses employer.  Both the owner and one employee have Valid Waivers of coverage and the election of coverage by the one employee who needs coverage would satisfy 100% employee participation.

  • Now...if it was just the owner with a Valid Waiver, and one of the two employees chose not to enroll due to cost or having their own plan through The Health Insurance Marketplace, than there would no longer be qualification as participation would be at 50%.

As a Sole Proprietor with no Part Time (PT) or Full Time (FT) employees, am I eligible for a small business plan?

No.  In order to be eligible you must employ at least one employee.

Note:  Employee can be part-time, full-time, or 1099

As the sole shareholder/owner of an S Corporation (Waged or Not Waged) with no Part Time (PT) or Full Time (FT) employees, am I eligible for a small business plan?

No.  In order to be eligible you must employ at least one employee.

Note:  Employee can be part-time, full-time, or 1099

Are shareholders (non-waged) of an S Corporation with no Part Time (PT) or Full Time (FT) employees eligible for a small business plan?

YES.  

As a Single Member LLC with no Part Time (PT) or Full Time (FT) employees, am I eligible for a small business plan?

No.  In order to be eligible you must employ at least one employee.

Note:  Employee can be part-time, full-time, or 1099

Note:  Carriers will consider an LLC that does not have any W2 employees as long as the LLC is a Partnership

As a Husband and Wife Employer with no Part Time (PT) or Full Time (FT) employees, are we eligible for a small business plan?

No.  In order to be eligible you must employ at least one employee.

Note:  Employee can be part-time, full-time, or 1099

Exception:  BCBSIL will consider a Husband and Wife employer group only if it is established as a Partnership via an LLC or LLP, and must file 1065 K1's, which are tax filings for a Partnership.

 

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