The Patient Protection and Affordable Care Act will affect both the small and large employer groups in the State of South Dakota.
The Small Business Health Options Program (SHOP) is offered in the Federally Facilitated Marketplace for small employers. Small employers may qualify for a small business health care tax credit worth up to 50 percent of your premium costs. You can still deduct from your taxes the rest of your premium costs not covered by the tax credit. Beginning in 2014 it is available only for plans purchased through the SHOP.
Large employers will be required to offer insurance that meets minimum standards or they may be subject to the Employer Shared Responsibility Payment. Although the law made this requirement effective 2014, the Obama Administration has delayed it until 2015.