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ACA Small Group Tax Credits For Businesses

Under the Affordable Care Act, tax credits that lower the costs of employee insurance premiums are available to some small business that meet the qualification requirements. 

To qualify, a business must have no more than 25 employees who are full-time. The average annual wage of those employees cannot exceed $50,000. And, health care coverage for those employees must come from the Small Business Health Options Program (SHOP) marketplace.

For 2014, the maximum amount available as a tax credit is 50 percent of total employee health care costs if the company is a small business and 35 percent of total employee health care costs if it is a non-profit organization in the state. Additional requirements exist for business who want the maximum credit amount. For example, the business must have no more than 10 employees who are full-time and their average annual wage cannot exceed $25,000.

For more information on tax credit opportunities and small group insurance in the greater Los Angeles, California area, contact Save-On Health Insurance Services today.