Employee Benefits for Business Owners

Health insurance is a critical factor for small to large businesses to help retain and recruit employees and sustain productivity and satisfaction. RIG offers a range of group health insurance options from the nation's leading health insurance providers designed to help your business save money and support your employees’ health and well-being. 

Purchase a health plan for Businesses with (2-50 employees) – Get a quote and see what deductible, copays and premium amounts are most popular with businesses like yours — all in under 10 minutes. When the time is right, you can purchase health insurance for your business directly from the Small Business Store. 

Small Business Health Options Program (SHOP) – The Affordable Care Act introduced a new way for small business employers to shop for group health insurance. SHOP is an online marketplace where eligible employers can choose coverage options for their employees and where their employees can shop for insurance. 

 What employers can offer plans through the SHOP?

• In most states, eligible employers must have 50 or fewer full-time equivalent employees to participate in the SHOP Marketplace. In California, Colorado, New York and Vermont, eligible employers may have up to 100 full-time equivalent employees.
• Employers pay a portion of the premium, but no federal subsidy assistance is available to employees who purchase health insurance through the SHOP.
• Small business employers with fewer than 50 full-time equivalent employees are not required by health reform law to offer health insurance.

What is the Small Business Tax Credit?

The Small Business Tax Credit is available to employers with fewer than 25 full-time equivalent employees (not counting owners or their family members) who earn less than an average of $50,000 annually.

• These employers must pay 50 percent of the premiums to qualify, but they are also eligible for a tax credit of up to 50 percent.
• This is a temporary tax credit.

What plans are offered through the SHOP?

Employers may choose one plan or, in many states, have the option to offer multiple plans to employees through the SHOP.

• The plans offered through SHOP:
  • Meet Essential Health Benefits requirements.
  • Meet minimum value requirements because the plan pays at least 60 percent or more of the plan's total allowed benefit costs anticipated for a standard population.
    
  • Are available in four insurance plan categories or metal levels known as Bronze, Silver, Gold and Platinum.

Taxes – Taxes for small business owners are also unique. Our small business financial advisors know all the deductions you can take. They help you find ways to manage your money before tax season so as to never overpay your taxes.

Choose from a variety of plan designs, tailored provider networks and integrated benefits solutions to help meet your cost objectives and employee needs.