With the implementation of the Obamacare and all mandates and requirements 
that come with it, it is essential for small business owners to understand how the law applies to them, and how to make the most of available tax credits and grants .
Trade Health Petit Options Program provides an affordable, flexible alternative for those companies who want to offer dental coverage and health to their employees, even if they do not reach the minimum number by the law.
What are the requirements to use the market SHOP?
to use the SHOP market, non-profit or a company must have fewer than 50 full-time employees, although requirements may vary depending on your company's status works . Store the market is not for those who are self-employed, but rather companies that have at least one FTE is not a partner, owner or family member.
What are the advantages of using market SHOP?
There are five main reasons why companies might want to consider the market when offering benefits to employees.
- offers the flexibility of choice regarding the amount the company pays, this type of plan is available to employees, and details of the registration period.
- Choose from high quality insurance plans offered by private insurance companies through the SHOP market.
- User- friendly system online that makes it easy and convenient for the employer.
- credits Possibility to use an agent or broker without charges, or handle all your coverage on your own. possible tax those with fewer than 25 employees.
Does my company qualify for the tax credit if I use the SHOP market
the care tax credit health of small businesses? is available for those with less than 25 employees who make an average of $ 50,000 or less annually. To qualify for the credit, your company must meet all the following requirements:
- The company covers at least 50% of the premium cost ETP
- The cover is available to FTE SHOP market
- the company has fewer than 25 FTEs
- the average employee makes $ 50,000 or less annually
eligible companies can receive up to 50% of the contribution to employee premium costs. Companies are not required to offer coverage to part-time employees to be eligible for the tax credit.
Conclusion
The SHOP market is intended to facilitate for small businesses to offer medical insurance coverage and dental staff, tax credits for those who qualify.
Have you found this information useful? What questions do you have about the premium tax credits for small businesses? Ask us in the comments below.
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