CMS now proposes maintaining the Affordable Care Act Small Business Health Care Tax Credit
, but allowing employers to enroll directly with insurance companies offering SHOP plans or through a broker registered with SHOP.
Some employers that purchase SHOP coverage are also able to access the Small Business Health Care Tax Credit
Additionally, small employers who meet certain eligibility criteria and who offer health coverage through the Small Business Health Options Program (SHOP) Marketplace may qualify for a Health Care Tax Credit
Republicans say their health care tax credit
would be as easy to move from plan to plan as a backpack.
Of particular interest is the explanation of the Small Business Health Care Tax Credit
and ACA's impact on Flexible Spending Arrangements (FSAs) and Health Savings Accounts (HSAs).
Businesses with 25 or fewer employees that offer coverage to their workers through the SHOP marketplace may be eligible for a Small Business Health Care Tax Credit
of up to 50% of the employer's cost.
Keep in mind that for businesses to qualify for the small business health care tax credit
, they must use the SHOP marketplaces.
But if you want to apply for the Small Business Health Care Tax Credit
, you will need to get a notice of your SHOP eligibility before you file your returns for tax year 2014.
The IRS site links to a Small Business Health Care Tax Credit
Estimator developed by the Taxpayer Advocate Service (available at tinyurl.
The Small Business Health Care Tax Credit
significantly helps businesses by offsetting some of the cost increases that may come with providing quality, affordable health insurance to employees.
The ACA also includes a Small Business Health Care Tax Credit
that's available for tax years 2010-2013.