Rhode Island: 700 small businesses & 5,200 people now enrolled in SHOP plans
I don't write much about Rhode Island outside of the actual Open Enrollment Period each year, and I almost never write about the ACA's "SHOP" (Small Business Health Options Program...which should really be labelled SB-HOP) these days (the program has never enrolled more than perhaps 200,000 people nationally at most)...but both the state and the program could use a little love, so what the heck:
RUMFORD, RI (March 6, 2018) – HealthSource RI for Employers today announced it has hit a major milestone. The health insurance marketplace for small employers has now enrolled its 700th small business. These 700 local businesses reflect over 5,200 Rhode Islanders.
Considering that Rhode Island only has about 1.05 million people total, that's not bad at all...5,200 people represents around half a percent of their total population; that would be about 1.6 million people nationally if every state was doing as well with the SHOP program.
Providence Power Yoga was the 700th business to join HealthSource RI for Employers. The yoga studio has three locations in the Providence area and a team of more than 30 yoga teachers and management staff members. Owner JoEllen Hockenbrough says joining HealthSource RI for Employers just made sense. “At Providence Power Yoga, we want our health insurance options to be as diverse as our staff and our customers. HealthSource RI for Employers made it possible for us to offer unique, high-quality benefits to our employees that are normally out of reach for a business our size.”
HealthSource RI operates one of the best performing small business health insurance marketplaces in the country.HealthSource RI for Employers has the largest market share among the 14 comparable* state-based small business marketplaces in the United States.
HealthSource RI director Zachary Sherman says he is pleased with the steady growth of HealthSource RI for Employers. “We are really excited to reach this milestone and that Providence Power Yoga joined the hundreds of other small businesses taking advantage of the services available through HealthSource RI for Employers,” Sherman said, “We are proud that our innovative, full-service marketplace helps so many Rhode Island companies improve the health of their employees through access to affordable health coverage.”
Small businesses enrolled in HealthSource RI for Employers have access to 16 different health insurance options from Blue Cross & Blue Shield of Rhode Island and Neighborhood Health Plan of Rhode Island. HealthSource RI for Employers also offers five dental plan options, ancillary benefits, and an innovative “Full Choice” option, which allows employers to set a contribution and let their employees select from a range of health insurance plans.
Small employers who are interested in joining HealthSource RI for Employers can contact the Business Engagement Team at 1-855-683-6757 or visit HealthSourceRI.com/Employers.