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Health Reform Implications for Employers
The Georgia Health Policy Center, the Center for Mississippi Health Policy, and the Florida Public Health Institute have partnered to release a health reform package for employers. The package includes a policy brief and an interactive small business calculator. The brief focuses on provisions in the Affordable Care Act (health reform) specific to employer-sponsored health insurance plans. The 50-State Health Reform Calculator for Small Businesses©, an online tool, offers for-profit and non-profit small businesses the ability to estimate eligibility for tax credits through health reform.
More than 90% of Americans with private health insurance obtain that coverage through employer-sponsored plans. The Affordable Care Act (health reform) targets the link between employment and health insurance. Provisions of health reform that affect employer decision making are highlighted in this policy brief.
If small employers (fewer than 25 FTE's) do offer coverage and the employer has a generally low-wage workforce (average annual wages less than $50,000), the employer may be eligible for temporary subsidies to offset some of the costs of offering plans. Firms eligible for such subsidies can claim them through their tax returns starting in 2010.
Below is the 50-State Health Reform Calculator for Small Businesses©. This calculator is intended to give small business owners a rough idea of the amount of tax credit they could receive in 2010 if they offer health benefits to their employees as a result of the Affordable Care Act (health reform). The calculator takes into account many of the factors that will determine if, and how much of a credit the business could receive, but necessarily makes some assumptions. Employers who feel they may be eligible for the tax credit are urged to consult with their tax advisors to determine the actual amount.
Note: Java Version 6 is required to use the calculator. Download it for free at http://www.java.com
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