Are you a small business owner considering whether or not to provide health insurance for your employees? Although it is not mandatory, offering health insurance benefits small business owners by: helping to attract and retain employees making the business eligible for a possible tax credit In a recent post on this site, we provide a detailed explanation of how the small business tax credit for health insurance works. Estimate Your
Can Your Small Business Get a Tax Credit by Providing Health Insurance?
If you are a small business owner, have you considered providing health insurance for your employees? The Affordable Care Act (ACA) makes health insurance mandatory for most Americans in 2014, and the deadline for individuals to enroll in personal coverage — March 31, 2014 — is approaching quickly. Your employees may be scrambling right about now to get coverage. If you are trying to decide whether or not to provide
Online SHOP – Small Business Health Options Program – Delayed by One Year
Last week we learned that the Department of Health and Human Services (HHS) has delayed by one year the launch of the online SHOP (Small Business Health Options Program). What is SHOP? SHOP is the federal online health insurance marketplace through which small business owners (employing less than 50 FTEs) can shop group health insurance plans for their employees. The idea behind SHOP is much the same as that of
Small Employers May be Missing Out on Tax Credit
Attention Small Business Owners Do you employ fewer than 25 full-time employees (or full-time equivalents/FTEs)? Do you provide your employees with health coverage? If you answered YES to both of these questions, you may be eligible for a federal income tax credit on your annual federal tax return! Most people know that under the Affordable Care Act (ACA), small employers (those with fewer than 50 FTEs) are not required to
