Small Business Owners
The health care law aims to help small companies, shops, and entrepreneurs save on health care costs so they can attract and protect employees while growing their business.
Tax credits help offset the cost of providing health insurance to employees for some small businesses with fewer than 25 workers. These tax breaks will increase through 2014 to cover more of the employer’s costs. Small businesses will also be able to shop for health coverage through state-based marketplaces called exchanges, giving them the same buying power as large companies.
Right Now
- Small business tax credits are available to some small businesses with fewer than 25 employees. The credits will cover up to 35 percent of the employer’s cost of providing health insurance for its workers.
Down the Road
- Beginning in 2014, the small business tax credit increases from 35 percent to 50 percent for eligible companies.
- Businesses with fewer than 50 full-time employees will not pay a fee if their employees receive a tax credit to purchase health coverage on the exchange.
- Collective buying power will help small businesses buy insurance for their employees. The state-based marketplaces called exchanges—launching in 2014—allow for more plan choices and better prices.
Premium Assistance Programs
The Health Insurance Partnership helps some small businesses with 2-9 full-time employees pay for the cost of providing health insurance to their employees.
Learn How the Law Affects You:
What Insurance Options are Available to You?
John’s Story
Every year, I worry about falling into the Medicare Part D “doughnut hole” as I treat my diabetes, high blood...
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