Offering health insurance benefits to your employees can actually earn your business rewards also
If your business plan, Äî or your investment in the well-being of your workers, Äî requires you to provide coverage even if you Aore not mandated by the affordable care Act, you may be eligible for significant tax credits. You want this win-win? Here, AOS's how it works.
The law requires companies with more than 50 full-time workers must make available health coverage. But if your small business is smaller than that and you, AOD always like to offer your employees coverage, you can claim tax credits to offset the cost.
Tax credits are available to businesses with 25 or fewer employees, more staff, more profit. Companies that have up to 10 employees who earn $ 25,000 or less per year could qualify for the highest amount of the tax credit. To be eligible, employers must cover half of the premium costs for each full-time employee. The company may be entitled to a tax credit of up to half of the employer contribution.
Want to see if your small business is eligible for tax credits on the cover of the health of employees? First, check the requirements:
- You employ fewer than 25 full-time employees (working at least 30 hours per week)
- The average annual salary of employees is $ 50,000 or less
- You cover at least 50 percent of the health plan premium for every full-time
- ask a licensed insurance advisor GoHealth how to apply for tax credits
There are other ways your business can save money while providing affordable health plans to employees. Negotiating rates, offering individual plans, and to investigate the direct primary care can help reduce your business costs
Take care of your employees and save money at the same time doesn AOT just help the bottom line. he built a smarter healthy business.
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