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White House Announces Small Business Tax Credit Provision for Worker Healthcare
Health Leaders Media

An estimated 4 million small businesses could be eligible for federal tax credits under the new healthcare reform law that would assist them in covering health insurance costs for their employees, administration officials announced Monday. The tax credit, which has an effective date of Jan. 1, 2010, can cover up to 35% of the premiums a small business pays to cover its workers; by 2014, that rate will increase to 50%, and small business owners will have the chance to access plans through health insurance exchanges. Firms can claim credit for up to six years—2010 through 2013 and for any two years after that.