The most important things that entrepreneurs should understand about reforming health care:
Exchanges
reform health care is the creation of a national network network of health insurance exchanges. Small businesses and individuals will be able to shop for the health coverage on exchanges or whether they are eligible for a Medicare subsidy.
sanctions
The reform of health care of small businesses are not required to provide health insurance to their employees. The reform defines a small business with up to 50 employees.
In addition, large companies are not required to provide health insurance for employees, but could face a penalty. A large company is any company with more than 50 employees. The penalty occurs when employees receive premium tax credits for insurance exchanges to take out individual insurance. Large employers could face a penalty of $ 2,000 for each full-time employee if the employer does not offer group health insurance.
Tax credits
Small businesses are eligible for tax credits when they provide health insurance to their employees. The credits work on a sliding scale as long as the company has 25 employees and pay average annual wages below $ 50,000.
Currently small businesses are eligible for a tax credit of 35 percent, but in 2014 the tax credit increases to 50 percent.
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