Small Business Tax Credit
Find Out if Your Business Qualifies
- Tax Credit
- About SHOP
- How to Enroll
ABOUT SHOP
What is SHOP, and Who Qualifies?
The Small Business Health Options Program (SHOP) lets small employers offer health and/or dental insurance to their employees at any time of year. To qualify, your business or non-profit must meet all four criteria:
01
1–50 full-time equivalent employees
02
Coverage offered to all full-time employees
03
70% minimum employee enrollment
04
Idaho-based office or work site
To find out if you qualify, use the Small Business Health Care Tax Credit Estimator.
For additional information, see how to enroll in SHOP insurance.
SMALL BUSINESS HEALTH CARE TAX CREDIT
See if Your Business Qualifies
The Small Business Health Care Tax Credit is designed to offset the costs of providing health insurance to employees. You may qualify for the Small Business Health Care Tax Credit if you meet all of the following:
- Fewer than 25 full-time equivalent (FTE) employees
- Average employee salary of $56,000/year or less
- Pay at least 50% of full-time employees' premium costs
- SHOP coverage offered to all full-time employees
APPLICATION
How to Enroll
1
Complete it, then email to SHOP@yourhealthidaho.org (subject: “SHOP request”) or mail to Your Health Idaho, P.O. Box 50143, Boise, ID 83705.
2
Receive your SHOP ID number
Your Health Idaho will issue your SHOP ID number once your application is processed.
3
Use your SHOP ID to enroll
Select and enroll in a plan directly with a participating insurer.
4
Claim your tax credit
File Form 8941 with the IRS to claim your Small Business Health Care Tax Credit.
We recommend working with a Your Health Idaho-Certified Agent or Broker for a smoother enrollment experience.
IMPORTANT TO KNOW
Self-Employed?
Business owners with no employees can still enroll themselves and dependents in a health plan and apply for a tax credit through Your Health Idaho.