Employers With 25 Employees or Less Can Qualify … If
Now that the Health Care and Education Affordability Reconciliation Act of 2010 (HR 4872) has passed into law, what does it mean for the millions of small business owners across America? Well, the answer to that question really depends on your current practices. It could be very good news or bad news. Our focus today will be on the “Good News”.
If you are among the millions of small business owners who are currently providing health insurance for your employees, then the news couldn’t be any better. Under HR 4872, you could now qualify for the small business tax credit established by the Act to encourage small business owners to purchase group health coverage for their workforce. Employers who contribute at least 50% of a still unspecified “benchmark premium” will be entitled to a tax credit of up to 35% of the premiums. Tax credits are also available for small non-profit organizations as well, however the amount of the credit is only 25% of their pemium contributions
To tell you more about the “Good News” click on the video from the most unlikely government agency … the IRS.
Stay tuned for the latest information on the things that matter most to organizations of all sizes, as we help you to navigate the waters of health care reform, and issues that effect you, your company and your employees.