Does Your Small Business Qualify for a Health Insurance Tax Credit?
Most small employers in Central Florida don't know this benefit exists. If you own a small business in Orlando and you've been putting off offering health insurance to your employees — the cost, the confusion, the paperwork — there's a program built specifically for you.
What Is SHOP?
It's called SHOP: the Small Business Health Options Program, and it's part of the Affordable Care Act. It allows businesses with 1 to 50 employees to offer quality health and dental coverage and potentially cut their premium costs nearly in half through a federal tax credit.
SHOP is the small business side of the ACA Marketplace. Unlike individual health plans, it's available year-round—you don't have to wait for open enrollment. You choose how much you contribute toward your employees' premiums, and your employees may be able to choose from multiple plan options.
You can offer:
- Health coverage only
- Dental coverage only
- Both health and dental
The Tax Credit: Your Biggest Advantage
Here's where it gets powerful. If your business has fewer than 25 full-time equivalent employees and you pay average wages below a certain threshold, you may qualify for the Small Business Health Care Tax Credit worth up to 50% of what you pay in premiums. Nonprofit employers can receive up to 35%.
That means if you're paying $2,000/month in premiums, the federal government could effectively be covering $1,000 of it. SHOP coverage is the only way to access this tax credit.
Who Should Consider SHOP?
SHOP may be a great fit if you're a:
And if you've been unable to afford group insurance in the past — the tax credit changes the math significantly.
Working With a SHOP-Registered Agent Costs You Nothing
As a SHOP-registered independent agent, I help small business owners in Central Florida:
- Determine if your business qualifies
- Compare available plans side by side
- Calculate your potential tax credit
- Handle enrollment and ongoing changes
You pay nothing extra for this service. My compensation comes from the carrier.
Let's Talk — En Inglés o en Español
I'm Sam Gordon, owner of Affordable Health Insurance of Central Florida, a licensed independent health insurance agent serving small businesses throughout the Orlando metro area. I'm bilingual and work with the full range of small business owners in our community.
Ready to see if your business qualifies?
No pressure. No obligation. Just answers.