COLORADO - The fears about federal health reform among small business owners are unfounded in many cases, according to a business consultant who spoke Tuesday at a seminar sponsored by the Pueblo Small Business Development Center. Tim Gaudette, western outreach manager for Small Business Majority, said the requirement for small businesses to provide insurance coverage won't impact most small businesses nationwide because it applies only to businesses with 50 or more employees. Gaudette said 96 percent of American businesses have fewer employees.
Businesses with more than 50 employees are eligible for varying tax credits to help them recoup the cost of health insurance premiums, which Gaudette said likely will go down after Colorado's health benefits exchange program is up and running late this year.
The tax credits have been available since the Patient Protection and Affordable Care Act was passed in 2010, but few businesses have taken advantage of them, Gaudette said, adding that the value of the credits was estimated at $15 billion in 2011.
The credits may be claimed retroactively. They can be claimed yearly on the federal Form 8941, Gaudette said.
He encouraged business owners who can to provide health coverage to employees because it's such a valued part of compensation packages. He predicted that, once individuals and families can buy their own coverage through exchanges, many bright individuals now "stuck" in large corporations might take the leap to open their own businesses.
Small Business Majority is an advocacy group founded and run by small business owners and operating in 20 states. Gaudette is based in Denver.
For links to health insurance tax credit tables and other information, go to www.chieftain.com.
lorettas@chieftain.com ___
Copyright 2013 MedCity News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Source: http://medcitynews.com/2013/01/healthcare-reform-fears-unfounded-small-business-expert-says/
Bacon Number Kate Middleton photos Chi Magazine Kate Middleton Nude Photos glee glee boxing news
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.