It’s finally here, for better or worse. Maryland’s small business health exchange is open.
In October of 2012, it was delayed until April 2013. Then, the Small Business Health Options Program, or SHOP— a health insurance marketplace for employers with fewer than 50 employees—was delayed again until January 2014.
But after technical glitches were sorted out, the exchange is now open for enrollment. And, despite Obamacare’s unpopularity overall among small business owner, there are some silver linings for you:
“Businesses can qualify for a two-year tax credit if they have 25 or fewer employees,” according to the Baltimore Business Journal. “Tax credits, a percentage of the company’s overall premium costs, vary depending on employees’ average salary. For example, a company with 15 full-time employees who earn an average salary of $35,000 can get a tax credit worth 13 percent of their total premium payments.”
If interested, small business owners can register for SHOP throughout the year.
