Health Care Tax Credit

A tax credit available to some small businesses that provide health insurance for their employees. The health care tax credit is a direct, dollar-for-dollar reduction in a business' tax liability up to a certain percentage of the premium it pays for employee health insurance. The credit phases out for average employee incomes between $25,000 and $50,000 and for business with between 10 and 25 full-time employees. This credit became available in 2010.

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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.

3 Forces Molding the Small-Group Health Market Now

Some employers that purchase SHOP coverage are also able to access the Small Business Health Care Tax Credit.

United States : Centers for Medicare and Medicaid Services Offers New Health Coverage Enrollment Option for Small Business

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.

Attracting and retaining great people: tips franchises need to know

Republicans say their health care tax credit would be as easy to move from plan to plan as a backpack.

Republicans' new ACA replacer, dissected

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).

Resources for navigating the Affordable Care Act

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.

Website of the month: Affordable Care Act websites--Part II

Keep in mind that for businesses to qualify for the small business health care tax credit, they must use the SHOP marketplaces.

6 things you probably don't know about health insurance ... but should

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.

Health insurance coverage--what small businesses need to know: you don't need to wait to hear hack from the SHOP marketplace about your eligibility before enrolling

The IRS site links to a Small Business Health Care Tax Credit Estimator developed by the Taxpayer Advocate Service (available at tinyurl.

Claiming the small employer health insurance tax credit: make this complex but potentially beneficial calculation

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.

Health care reform features tax credits for businesses

The ACA also includes a Small Business Health Care Tax Credit that's available for tax years 2010-2013.

The Affordable Care Act: what should be done in 2013? A number of provisions of the Affordable Care Act go into effect in 2013. Owners and managers of small and mediumsized companies should be prepared to deal with the changes required by these mandates