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The IRS has updated its guidance for small employers in
areas with no available SHOP plans who wish to claim the Small Business
Health Care Tax Credit.
Remember: The Small
Business Health Care Tax Credit can be worth up to 50% of your
premium contributions. In most cases, to qualify for the tax credit, you
must have:
Fewer
than 25 full-time equivalent (FTE) employees
An
average employee salary of $53,000 per year or less
Contributed
to at least 50% of your full-time employees’ premium costs
Offer
SHOP coverage to all full-time employees
You don’t need to offer coverage to your part-time
employees or dependents to qualify for the tax credit.
Questions? Contact
the SHOP Call Center at 1-800-706-7893 (TTY: 711) weekdays from 9 a.m. to
5 p.m. Eastern Time.
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