tax credit of the share premium health insurance can make individual health insurance 
more affordable for many Americans. Yet as a small business owner or manager, it is common to have questions about how tax credits and how they relate to your business, your family and your employees.
To help, this article covers ten concise facts about the tax credits of the health insurance premium
Note -. This blog is based on our new infographic, 7 truths about the cost of health insurance in America. Check out the full infographic here.
1. Available for the healthcare market plans
health insurance premiums generate tax credits are available for individual policies or the family health insurance available on public exchanges, also known as the markets.
2.
Tax credits for advanced premium to pay health insurance are "advanced payment", which means they can be applied to your premium when you buy a health insurance coverage.
3. Eligibility is based on income
You are eligible for a tax credit on premiums if you meet certain income requirements and do not have access to insurance affordable health through an employer or government program such as Medicaid or Medicare.
tax credits are available for households with incomes up to 400% of the federal poverty line (FPL).
This means that households earning up to $ 47,080 for an individual in 2015, or $ 97,000 for a family of four, qualify.
4. 85 percent of the market buyers are eligible
The Department of Health and Human Services (HHS) reported that 85 percent of people with active coverage Healthcare.com received a tax credit in 2015.
5. The Cape tax credits how much you pay
with a tax credit, your insurance premium is capped on a sliding scale between 2 and 9.6 percent of income, depending on your income.
For example, if you make $ 23,540 per year in 2015 (0 percent FPL), the maximum amount you will pay for health insurance is 6.34 percent of your income that is $ 1,492 / year ($ 124 / month).
There are several online calculators, like this one, available to help you understand eligibility.
6. The average tax credit is $ 272 / month
According to HHS, the average tax credit is $ 272 / month. And remember, the tax credits can be advanced to pay which means the discount is taken at the time the payment.
7. Pay 80 Percent Less Than $ 100 / month
Once the credit is applied, the vast majority (80 percent) of market buyers buy coverage for less than $ 100 / month.
8. The tax credits are reconciled at Tax Time
Each year at tax time, those who have received a tax credit report the actual income and the amount of received tax credit. Some may be eligible for additional funding, others may have to repay part of the credit. Read more: Filing taxes? How to deal with Premium Tax Credits
9. With the cover employers disqualify employees
As an employer, while providing coverage of insurance for employer health employees disqualifies them, and often their dependents access to tax credits.
10. Health Care Reimbursement Offer not cancel employees
Furthermore, by providing employees with a healthcare repayment plan does not disqualify employees of the premium tax credits
Infographic -. 7 (More) truths about health insurance in America
For more facts on the cost of health insurance and tax credits premium, see the full infographic below
Source -. Zane Benefits
Conclusion
Most small business owners and employees are not covered by traditional group health insurance policies. Instead, they buy coverage in the individual market for them and their families. Tax credits for health insurance premium adds additional savings for homeowners and eligible employees.
What questions do you have about tax credits for health insurance premium? What facts did we miss? Leave a comment or question below.
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