Small Business Health Options
Find your path to affordable group health insurance with beWellnm for Small Business.
Important update: Beginning July 1, 2023, we will be transitioning SHOP administration (Enrollment, billing, customer service) to Carriers. BeWellnm will continue to support the SHOP application and referral process by verifying that the small business meets the requirements for SHOP participation and will refer new groups who request the assistance of a broker to the appointment tool. BeWellnm will no longer support the shopping experience.
Groups wishing to enroll in small business coverage should return the application and the supporting documentation regarding the group’s eligibility to participate in the Small Business Health Options Program. BeWellnm will review the application and will forward the information to the carrier. A representative from the carrier will reach out to the group and the broker, if applicable, to assist with the enrollment process. BeWellnm will also support groups through this process and is available for questions. The small business specialists can be reached Monday – Friday 8am – 5pm at 1-833-862-3935 Option 8 or via email Business@nmhix.com.
Why Offer Health Insurance to Employees
Before enrolling in small group health insurance, employers want to know: Will the benefits outweigh the costs? Here are four reasons to offer coverage through beWellnm for Small Business:
- Retain employees. Offering employee health insurance may help attract and retain valuable workers. That saves money on recruiting and training.
- Reduce absenteeism. Employees with insurance may be more likely to take advantage of preventive care and screenings. That can help keep employees healthy and on the job.
- Boost morale. Providing health insurance shows your commitment to the health and well-being of employees and their families. In return, employees may feel a greater sense of security and loyalty.
- Gain tax advantages. Employers can take a tax deduction for the cost of health insurance premiums paid on behalf of employees. In addition, employers with fewer than 25 FTE (full-time-equivalent) employees may be eligible for small business health care tax credits.
Review Tax Credits for Your Business
If you qualify for the Small Business Health Care Tax Credit, you may get a break on the costs you pay for group health insurance. You may be eligible for a tax credit if:
- You employ fewer than 25 FTE (full-time-equivalent) employees.
- You purchase group health insurance through beWellnm for Small Business.
- You pay at least half of the premium costs for employees’ insurance coverage.
- You haven’t claimed the credit in the past two years. (Employers can claim the tax credit for no more than two consecutive tax years beginning in 2014 or later.)
How much is the credit?
Use the Tax Credit Estimator available at beWellnm.com. The maximum credit is 50% of premiums paid on behalf of employees. The maximum credit for small nonprofit employers is 35%. The tax credit phases out based on the number of employees and average wages. Consult a tax advisor or attorney for more information.
Check Small Business Eligibility
BeWellnm for Small Business is open to New Mexico businesses and nonprofit organizations. If you can answer YES to all of these questions, you’re ready to go!
- Do you employ between 2 and 50 full-time employees?
Note: You must have at least 2 employees (other than yourself, a spouse, family member or owner) to purchase a plan through beWellnm for Small Business. If you’re self-employed, you may purchase individual insurance through beWellnm.com. - Do you offer coverage, at a minimum, to all full-time employees?
Note: In addition, you may choose to cover part-time employees and dependents. - Is your worksite address within the state of New Mexico?
Note: You must have a valid Employer Identification Number (EIN).
When can I enroll?
Open enrollment continues on a rolling basis throughout the year.
Can I appeal a decision?
If you believe any decisions about your eligibility are incorrect, you can file an appeal. Call beWellnm for the Business Engagement Team at 1-833-862-3935 – select option #8 to begin your appeal process.
Get Ready to Enroll
Whether you’ve been down this road before or not, it always helps to have someone on your side. When you’re ready to explore small business health insurance options, take the next step:
- Work with a Certified Broker. Agents and Brokers understand the New Mexico health insurance market and can help you choose the coverage that’s right for your organization. Their services are free to small business owners. Find an agent or broker.
- Employer groups have choice when enrolling on the marketplace with the Official Carriers for 2023. Click on the company to learn more.
To apply for the Small Business Health Options Program, please follow these steps:
- Download the Small Business Application.
- Complete the application.
- Email the completed application to business@bewellnm.com.
- Our small business engagement team will review the application and supporting documentation.
- Once reviewed, we will forward the application to the carrier for processing.
- The carrier’s account manager will contact the authorized representative of the small business to assist them with the enrollment process
When can I enroll?
Open enrollment for SHOP is on a rolling basis throughout the year. The carrier accepts applications for coverage beginning on the first of the month through the 15th of the previous month.
How can I renew coverage?
Beginning July 1, 2023, employer groups will renew directly with the carrier. They will receive a notification from beWellnm 75 days before their coverage expires which will explain the new process. They will have the option to renew coverage on an on-exchange or off-exchange selection of plans. If an employer group needs help navigating the renewal process, they may contact our business engagement team at 1-833-862-3935 Option #8. “
Employer groups have choice when enrolling on the marketplace with the Official Carriers for 2023. Click on the company to learn more.
