Few Small Businesses Use Valuable Obama Health Care Tax Credit

Filed under: Health Insurance,Management,News |

Health care tax credits unused

While small business owners frequently complain about the cost of providing health insurance for the their employees, few are taking advantage of valuable health care tax credit, according to published reports.

According to the IRS, the small business health care tax credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees. Qualified businesses must have fewer than 25 employees and average annual wages of less than $50,000.

According to the 2011 Employer Health Benefits Survey conducted by Kaiser Family Foundation and Health Research and Educational Trust, only 13% of businesses with 3 to 24 workers offered family coverage to adults after the Affordable Care Act in 2011 as compared to 90% of businesses that had 5,000 or more employees.

 From USC’s neontommy.com

Part of the problem seem to be a matter of public relations and education.

Small business owners contacted for the neontommy.com story said they no time to find out about the benefit, much less apply for it. That understandable given the current state of the economy.

However, filing for the credit is actually rather easy.

Here is a a guide to the Small Business Health Care Tax Credit for Small Employers


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