Pecans Unlimited has 10 FTEs and 8 enroll in SHOP coverage. What is their SHOP participation rate?

To determine the SHOP participation rate, you need to calculate the percentage of Full-Time Equivalents (FTEs) that are enrolled in the SHOP coverage. In this case, Pecans Unlimited has 10 FTEs and 8 of them have enrolled in SHOP coverage.

To find the participation rate, you'll divide the number of employees enrolled in SHOP coverage (8) by the total number of FTEs (10), and then multiply the result by 100 to get a percentage:

Participation Rate = (Number of Enrolled Employees / Total FTEs) × 100

Participation Rate = (8 / 10) × 100

Participation Rate = 0.8 × 100

Participation Rate = 80%

Thus, the correct participation rate is 80%, which means that 80% of the FTEs at Pecans Unlimited are participating in the SHOP coverage. This indicates a strong level of involvement in health insurance options provided to employees, reflecting positively on the company's commitment to employee well-being.