DALLAS, July 28, 2016 /PRNewswire/ -- BenefitMall®, a leading provider of employee benefits and payroll services, has been chosen as the administrator of the small business health insurance program offered through Maryland's state-based marketplace for health coverage.
With this new partnership, the BenefitMall team will be responsible for reviewing applications, determining benefit eligibility and additional aspects of the Small Business Health Options Program (SHOP) for those small businesses working with the Maryland Health Benefit Exchange.
"BenefitMall is extremely excited about the opportunity to partner with the Maryland Health Benefit Exchange and to support small businesses in obtaining quality health care coverage for their employees," said Fran Guillott, regional vice president of BenefitMall. "With more than 35 years of industry experience in successfully supporting brokers and small businesses in the procurement of health benefits, we know that we will be a valuable contributor to the SHOP experience."
For Maryland businesses with 50 or less full-time-equivalent employees, SHOP provides easy management of their health insurance and benefits program. Eligible employers may choose qualified health plans from well-known providers, and their employees can choose the level of coverage and cost that best meets their needs. As of June 1, 2016, 119 small businesses are using the SHOP program to cover more than 1,000 individuals. Out of these 119 businesses, 83 percent of these employers have fewer than 10 employees and 12 percent of these employers have fewer than 20 employees.
"The program helps employers recruit and retain skilled workers in a competitive environment," said Carolyn Quattrocki, executive director of the Maryland Health Benefit Exchange. "Employers can also take advantage of free expert advice, greater coverage options for their employees and simplicity in paying for premiums."
Maryland businesses with less than 25 full-time-equivalent employees can also be eligible for a tax credit for plans purchased through the Maryland Health Connection SHOP marketplace for any two consecutive tax years dating back to 2014. Small businesses are even able to deduct premium costs that are not covered by the tax credit. For more information about this program, please visit www.benefitmall.com/Brokers/Additional/MD-Shop.
Headquartered in Dallas, BenefitMall partners with a network of 20,000 Brokers and CPAs to deliver employee benefits and payroll services to more than 200,000 small and medium-sized businesses. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform.
BenefitMall, the largest national General Agency merged with the second largest privately held payroll company, CompuPay. BenefitMall also operates HealthCareExchange.com, the leading online community for information regarding the Patient Protection and Affordable Care Act. More information is available at www.benefitmall.com.
About Maryland Health Benefit Exchange
The Maryland Health Benefit Exchange (MHBE) is a public corporation and independent unit of state government. It was established in accordance with the Patient Protection and Affordable Care Act of 2010 (ACA) and administers Maryland Health Connection. More information is available at marylandhbe.com.