See If You Qualify for Savings Towards Employee Premiums

View in browser Small Business Health Care Tax Credit Did you know you may be eligible for a tax credit covering up to 50% of the premiums paid for your small business employees’ health coverage?   The Small Business Health Care Tax Credit is generally only available to employers with a Small Business Health Options Program (SHOP) plan. To qualify, you must: Have fewer than 25 full-time equivalent (FTE) employees Pay average wages of less than $56,000 a year per FTE employee Pay at least 50% of your full-time employees’ premium costs Ready to see if you qualify for this tax credit? Click the link below and follow the steps on screen to see if your business is eligible and how much the credit may be!   Note: The IRS has released guidance on how a small employer, located in an area with no available SHOP plans, may qualify. Learn more.   Have questions? Contact your insurance company or a SHOP-registered agent or broker for help with SHOP coverage. For additional assistance, contact the SHOP Call Center at 1-800-706-7893 (TTY: 1-888-201-6445).   To learn more about HRAs, visit this webpage. Talk to a licensed tax professional, benefits specialist, or a registered agent or broker to find out more about whether an HRA or traditional group coverage is right for your business.

 

This message is paid for by the U.S. Department of Health and Human Services. It was created and distributed by the Centers for Medicare & Medicaid Services.