HealthSource RI enrolls 500th small business

HEALTHSOURCE RI is reporting that it reached a milestone by enrolling its 500th small business in the Small Business Health Options Program (SHOP).
HEALTHSOURCE RI is reporting that it reached a milestone by enrolling its 500th small business in the Small Business Health Options Program (SHOP).

PROVIDENCE – HealthSource RI, the state’s health benefits exchange, reached a milestone by enrolling its 500th small business in the Small Business Health Options Program (SHOP).

As of Tuesday, there are now 503 businesses enrolled, representing more than 2,000 employees and 1,500 family members.

According to HealthSource RI, small businesses enrolled in SHOP have access to 20 different health insurance plan options from three insurance carriers – Blue Cross & Blue Shield of Rhode Island, Neighborhood Health Plan of Rhode Island and UnitedHealthcare.

SHOP also offers a full employee choice option that allows employers to determine a contribution level, also called “defined contribution.”

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Employees can then choose from any of the 20 plans offered and opt for the level of coverage that works best for them and their families.

Sam Iserson, president of NC3 in Pawtucket, said the full choice model is one of the reasons he joined SHOP.

“Using HealthSource RI gives our employees options that they never had before. It provides them the opportunity to be better educated consumers and really understand the cost and benefit of their healthcare,” he said.

HealthSource RI said 2015’s enrollment numbers were strong, with an 89 percent renewal rate and 57 percent growth rate.

“Growth is strong and we look forward to serving even more small businesses by making it easier to understand and purchase insurance and by providing better choices,” HealthSource RI Director Anya Rader Wallack said in a statement. “Employers and their brokers like our innovative full choice model, the outstanding customer service provided by our business engagement specialists and the predictability of rates published up to a year in advance. These features don’t exist elsewhere.”

Small employers interested in joining SHOP can contact HealthSource RI’s small business team at 1-855-683-6757 or visit the small business section of HealthSourceRI.com.

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