Business Owners: Get the Facts on Health Reform
With so much in the media on the new healthcare legislation, it can be daunting for business owners to determine what impacts them. While our phones are not quite ringing off-the-hook on the topic, it is of concern to many small business owners. Here's a website with resources to help small business owners understand the new health insurance law, it's benefits, and implications.
The truth of the matter is the legislation is going to affect every business differently. In most cases, the vast majority of small businesses with fewer than 25 employees are exempt from it. And those who aren't, or the small firms who now choose to provide affordable health insurance for their employees, now have tools and options, and tax incentives. Or at least, this is how it should play out.
Check out www.HealthReform.gov. You can even join in the conversation at their Weekly Web Chats and have your questions answered. Tell us what you think.
Also check out the IRS website for more on the Small Business Health Care Tax Credit, which indicates there are tax credits (i.e., money in your pocket!) for small businesses that are paying 50% or more of their employees premiums. Check it out and see if your business will qualify for this incentive.