Healthcare reform saves small business owners money immediately through tax credits. Small businesses that pay at least 50% of their employees’ health insurance premiums and have less than 25 full-time workers with average annual wages below $50,000 are eligible for tax credits up of to 35% of their healthcare costs. This provision is designed to give small employers some financial relief from high healthcare costs, and more than four million small businesses nationwide qualified for this credit in 2010.
|Matt Grove, owner of Bagel Grove in Utica, NY, explains in this video how the tax credits in the Affordable Care Act helped him cover his employees with health insurance.|
|In this video, Terry Gardiner, explains the tax credit.|