How do I choose a health plan?

Health insurance for small businesses and individuals is classified as one of five different levels of coverage: catastrophic, bronze, silver, gold or platinum.

This tiered coverage system makes it much simpler to compare plans and find the best option for you and your employees. These categories describe how your employees and the plan can expect to share costs for coverage. Gold or Platinum plans have higher monthly premiums in order to ensure you pay less when you actually need medical coverage. Inversely, Silver, Bronze, and Catastrophic plans have lower monthly premiums but an individual will face more costly charges when if and when you do need medical coverage.

As an employer, you will choose a metal level and/or plan to offer your employees based on the plans available in your region. You will define a percentage that you would like to contribute towards premiums for employee-only coverage and dependent coverage, should you choose to offer it.

Once you’ve decided on the plan and contribution level, you will notify your employees and allow them the opportunity to make decisions on enrollment.  For coverage to begin at the first of a month, you must have applications and payment complete and submitted to the SHOP by the 15th of the preceding month.