Would you like to reduce your monthly payments?
You could be eligible for a Federal Small Business Tax Credit that covers up to 50% of your contribution to your employees’ premium costs. To qualify, you must:
- Provide health insurance to all employees.
- Pay for at least half the employee-only premium cost for either each employee’s chosen coverage or half the cost of the employer’s chosen reference plan.
- Have fewer than 25 full-time equivalent employees.
- Pay an average annual wage below $50,000.
It’s important to note that the business owner and any immediate family members who work for the business are not counted as employees and their income is not counted in the average wage.