Special Enrollment Period for Small Businesses

Small Business

Special Enrollment Period for Small Businesses

Published on November 29, 2018


If you’re looking for health insurance, then you might be happy to hear that you have the opportunity to save on costs. The yearly Special Enrollment Period (SEP) for small businesses is between November 15th and December 15th. If you’re going to get insurance for your small business during this time, you need to make sure that you have:

  • at least two total employees
  • at least one eligible employee

What is the small business special enrollment?
Normally you need 70% of your employees to be opting in to a group health insurance plan, but during the SEP that requirement is waived and you can sign up even if only one person is insured. The “catch” for this special enrollment for small business period is that:

  • the covered employee can’t be an owner, or the spouse of an owner
  • they must be a W-2 employee

Why rush to get a group health insurance plan during the small business Special Enrollment Period?
When you stay within the small business special enrollment window, you won’t be required to contribute to your employees’ health insurance. That means you can ask them to pay the entire premium, but they’ll still benefit from the usually lower prices of group health insurance.
If you sign up when there’s no period of special enrollment for small business, you’ll likely be required to pay up to 50% of the amount of their health insurance.
How much does health insurance for employees matter?
When you take advantage of the special enrollment for small business, you use that to get good insurance that your employees can appreciate. Offering insurance to employees can:

  • help keep good employees working at your company
  • attract new talent that’s looking for work
  • keep employees happier with the compensation they receive
  • make employees feel valued and important
  • reduce sick days at work
  • protect you and your employees from high medical bills in the case of a serious injury or illness

While all of these benefits seem great to any employer, at eHealth, we know that small employers often worry about affording a group health insurance plan. That’s why we want to make sure that all small business owners know about all the
How to enroll during the small business Special Enrollment Period
Finding group health insurance at any time of the year is easy when you use eHealth to search for plans. You can compare rates and see policies, so you can decide what works best for your employees, and your company, all for no extra cost. Consider that eHealth offers:

  • the potential for plans that aren’t on other exchanges
  • an easy-to-navigate website to avoid confusion
  • the same prices that you’ll find anywhere else (but more options to choose from)
  • excellent customer service to help guide you all the way through your group’s enrollment

Even if you miss out on the SEP for small businesses, these benefits of eHealth will still be available, and you can enroll in a small business health insurance plan anytime of the year, as long as you meet all of the requirements.
Fewer requirements during the small business Special Enrollment Period
You can certainly get coverage for your employees at other times of the year. But during the small business special enrollment period you’re free of a lot of the requirements you would otherwise have to meet. So you’ll enjoy:

  • No requirement to match funds or pay for part of the employees’ insurance
  • A lower minimum number of people who have to enroll during the special enrollment for small business
  • No participation requirements that encompass the majority of employees

During small business special enrollment, you can get everything you and your employees need for less. If you previously thought you couldn’t afford coverage for your small business employees, make sure to reconsider during SEP.
Visit eHealth today, and start comparing quotes on group plans immediately.

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