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Health Care


  • Submitted on 25 April 2014

    Created on April 25, 2014
     

    This post originally appeared on HealthCare.gov.

    When you buy health coverage for your employees through the Small Business Health Options Program (SHOP) Marketplace, you may qualify for a tax credit worth up to 50% of your premium contributions.

    Our new SHOP Tax Credit Estimator can tell you what that credit might be worth to your business.

    Here are some key things you should know about the tax credit and applying for SHOP:

    • Employers with fewer than 25 full-time equivalent employees may be eligible for the Small Business Health Care Tax Credit, worth up to 50% of employer premiums contributions, if their employees make an average of $50,000 a year or less.

    • The tax credit will be available to eligible employers for two consecutive taxable years.

    • The tax credit may be available to eligible tax-exempt employers who could receive up to 35% of employer premium contributions, and can access the credit as a refund.

    • Generally, the Small Business Health Care Tax Credit is available for eligible employers purchasing SHOP health plans.

    • To enroll in a SHOP plan in most states, you’ll use an agent, broker, or insurance company. You’ll also need to complete a SHOP eligibility application.

    • Visit IRS.gov for the most up to date information and guidance on claiming this tax credit.

    • Even if you’re a small employer who does not qualify for a small business tax credit, you may still purchase coverage through SHOP.

  • Submitted on 06 November 2013

    Created on November 6, 2013
     

    With new health insurance marketplaces now open, the Small Business Administration and Small Business Majority are excited to announce the next set of Affordable Care Act 101 weekly webinar dates.

    Each week, small business owners can learn the basics of the Affordable Care Act and how they can enroll in small business health insurance marketplaces. Other topics discussed include insurance reforms, the small business health care tax credit, and employer shared responsibility provisions.  SBA representatives help small business owners understand the facts of the Affordable Care Act so they can make informed decisions about providing health insurance for their employees.

    The Affordable Care Act 101 takes place every Thursday at 2 PM ET. Below are the registration links for upcoming presentations.

  • Submitted on 21 October 2013

    Created on October 21, 2013
     

    How do I choose coverage that’s right for my business?There are 4 categories of plans in the SHOP Marketplace. They offer similar benefits, but differ based on how enrollees and the plan share the costs of care.

    In 2014, SHOP is open to employers with 50 or fewer full-time equivalent (FTE) employees.

    When you compare plans for your business, you'll notice that the plans are put into categories:

    • Bronze

    • Silver

    • Gold

    • Platinum

  • Submitted on 30 September 2013

    Created on September 30, 2013
     

    Healthcare MapAt the center of the Affordable Care Act is the premise that we need to make health care more affordable and accessible for more Americans, and a new report released today demonstrates just how affordable insurance will be. The report, released by the Department of Health and Human Services (HHS), finds that in state after state, affordable options will be available through the Health Insurance Marketplace in 2014. 

    Nearly all eligible uninsured Americans (about 95%) live in states with average premiums below earlier projections.  And nearly all consumers (about 95%) will have a choice of health insurance companies, each of which offers a number of different plans.  Competition and transparency are driving a new set of affordable options for consumers -- it is how the law was designed.  This new report shows the real impact it could have – a working a family with income of $50,000 could pay less than $100 per month for the lowest bronze plan, after tax credits.

  • Submitted on 19 September 2013

    Created on September 19, 2013
     

    HealthcareAs a business owner, it's important to understand how the Affordable Care Act may affect your business. However, with so many misconceptions about how the Affordable Care Act works, this can be difficult.

    As part of our ongoing blog series, "Myth vs. Fact: The Affordable Care Act and Small Business," this week we're debunking another common myth: Business owners will be fined if they don't provide notification to their employees about the new Health Insurance Marketplace.

    Fact: If your company is covered by the Fair Labor Standards Act, you must provide a written notice to your employees about the Health Insurance Marketplace by October 1, 2013. However, there is no fine or penalty under the law for failing to provide the notice.

  • Submitted on 01 August 2013

    Created on August 1, 2013
     

    Cross-posted from the White House Blog by Valerie Jarrett

    Health Care ChangesAs we implement the Affordable Care Act, we continue listening to the needs of the business community. Based on our many conversations with leaders of our nation’s businesses, large and small, today we are launching Business.USA.gov/healthcare, a one-stop-shop where employers of all sizes can go for information on the Affordable Care Act.

    The new site includes a web-based tool that allows employers to get tailored information on how the health law may affect them based on their business’ size, location, and plans for offering health benefits to their workers next year. From tax credits for small businesses to help make coverage affordable, to measures to help slow the growth of health care costs, there are a variety of ways that the Affordable Care Act can help businesses expand health care coverage and compete.

    The site leverages the resources of our partners across the federal government to ensure that business owners get comprehensive health care information and easy-to-use tools, such as a timeline of key implementation dates; information about the SHOP Marketplaces and small business tax credits; and resources to help calculate a firm’s number of full-time equivalent employees or determine if the coverage they already offer meets the law’s minimum value standards.

    The administration is working with the employer community to ensure the site continues to be a helpful resource for businesses and their employees, including updating the site with additional, timely information, so stay tuned.

  • Submitted on 30 July 2013

    Created on July 30, 2013
     

    The Small Business Administration and Small Business Majority are launching the Affordable Care Act 101 weekly webinar series. Each week, SBA representatives will walk through the key pieces of the law so that small business owners can understand the facts and make the most informed decisions they can about providing health insurance for their employees.

    This free series will focus on both federal and state provisions to help small business owners understand how the law will affect them. Topics being discussed include:

  • Submitted on 10 July 2013

    Created on July 10, 2013
     

    HealthcareThe New HealthCare.gov and the Health Insurance Marketplace

    Health insurance is changing in important ways in 2014. HealthCare.gov is ready to help you with the upcoming changes, especially one of the most important: the opening of the new Health Insurance Marketplace.

    Answering your questions about health coverage

    The resources and tools made available on the website will help you understand your new health coverage options so you can enroll in a plan that works for you and your family. If you run a business, the site will help you find a plan that works for you and your employees. Self-employed? You’re covered too.

  • Submitted on 09 July 2013

    Created on July 9, 2013
     

    From the start, this Administration has encouraged an ongoing dialogue with the leaders of our nation’s businesses, large and small. There’s more to do, but working together we’ve helped rebuild our economy. Businesses have added 6.9 million private-sector jobs in the past 39 months and we’ve helped strengthen the middle class. Today, most Americans get their health insurance through their jobs and that will be the case moving forward.

    To help restore middle class security, we are making health care more affordable to businesses, government, and American families through the Affordable Care Act. While major portions of the law have yet to be implemented, it’s already a little more affordable for businesses to offer quality health coverage to their employees. A recent report suggests that medical cost growth will be lower in 2014 than an already low rate in 2013, both “defying historical patterns.”

  • Submitted on 05 July 2013

    Created on July 5, 2013
     

    Small Business Tax CreditThe Small Business Health Options Program (SHOP) is a new program that simplifies the process of buying health insurance for your small business.

    The SHOP Marketplace gives you choice and control over health costs.

    • You control the coverage you offer and how much you pay toward employee premiums.

    • You can compare health plans online on an apples-to-apples basis, which helps you make a decision that's right for your business.

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