tag:blogger.com,1999:blog-42748314318278278152011-07-07T23:18:20.651-07:00Health Insurance Made Easy! Licensed Health Insurance Specialist Serving Oregon, Washington, Idaho and Arizona - Call today (503) 524-5700SG Insurancehttp://www.blogger.com/profile/07011651865724596320noreply@blogger.comBlogger11100tag:blogger.com,1999:blog-4274831431827827815.post-23665235525775728892010-05-25T09:59:00.000-07:002010-05-25T09:59:35.746-07:00IRS Small Business Health Care Tax Credit <br /><br /><br /><br /><br />The new Internal Revenue Service (IRS) Small Business Health Care Tax Credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees’ health care benefits. <br /><br /><br /><br />Eligibility Rules<br /><br /><br /><br />For-profit and tax-exempt employers may qualify. However, all three of the following criteria must be met: <br /><br /><br /><br />1.The employer must cover at least 50 percent of health care coverage costs for workers based on the employee-only (single) rate.<br /><br />2.The employer must have no more than the equivalent of 25 full-time workers (not counting owners or family members).<br /><br />3.Employees’ average annual wages (not counting owners or family members) must be below $50,000.<br /><br /><br /><br />Credit Amount<br /><br /><br /><br />•The maximum credit is worth up to 35 percent of a company's premium costs in 2010 (25 percent for tax-exempt employers).<br /><br />◦Note that the rate will increase to 50 percent on Jan. 1, 2014 (35 percent for tax-exempt employers).<br /><br /><br /><br />•The credit gradually phases out for employers with average wages between $25,000 and $50,000, and for employers with the equivalent of between 10 and 25 full-time workers.<br /><br /><br /><br />Employer Notification/Support Materials<br /><br /><br />The IRS is informing potentially eligible small business groups about this tax credit. Visit the IRS site for additional support materials, including a video and frequently asked questions.<br /><br /><br /><br />We will communicate the tax credit program with applicable existing customers before, during and after the renewal process. For more information, contact your UnitedHealthcare representative. <br /><br /><br /><span style="color: blue;">This could help small businesses afford richer plans or simply save in their monthly premiums.</span><br /><br /><span style="color: blue;">More news to follow regarding the health care reforms being implemented.</span><br /><br /><span style="color: blue;">Please call me with any questions - 503-524-5700.&nbsp; </span><br /><br /><span style="color: blue;">Susan Gsell</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4274831431827827815-2366523552577572889?l=sginsuranceupdates.blogspot.com' alt='' /></div>SG Insurancehttp://www.blogger.com/profile/07011651865724596320noreply@blogger.com0