Delivering Affordable Health Care Coverage To America's Small Businesses
In this economic climate, families and small businesses need the government on their side. For too long, partisan politicians have sided with big corporate donors at the expense of main street Americans. Until now.
The new health care reform law delivers tax credits for thousands of small businesses to purchase health insurance for their employees. This will drive down long-term health care costs and allow businesses to stay competitive.
Small businesses that cover at least 50 percent of their employees' health premiums may be eligible for an annual tax credit of up to 35 percent of the average regional cost. In 2014, eligible small businesses will have the option to receive a tax deduction of up to 50 percent of their employees' premium if they purchase health care from the state health exchange network.
By enabling small businesses to join the health exchange network, CNN explains that "[t]he Congressional Budget Office predicts that the tax credit will affect about 12% of individuals covered via the small-group insurance market, lowering their cost of insurance by between 8% and 11%." The tax credit is available immediately and determining eligibility is simple.
Small Business Majority has created a useful tool to help small business owners determine their coming tax credit.
The below links provide state-specific information about how the new health care reform law offers access to affordable and quality health care for small businesses: