Republican plans to repeal the Affordable Care Act were like something out of a B horror movie: terrifying at times, very unrealistic and surprisingly difficult to kill. Fortunately for America’s small businesses, conservative lawmakers failed for now to gut the ACA. This development is wonderful news given that small firms like ours struggled with health care costs for years before the ACA led to better health coverage and more choices at lower prices.
Healthcare tax credit
Michelle Mauricci, a true entrepreneur, has owned not one, not two, but three small businesses. Her current business, Think Possible, located in Reno, Nevada, is a personal business-consulting firm that helps entrepreneurs navigate their health coverage options under the Affordable Care Act (ACA), among other services. Michelle also receives her own coverage through the ACA’s individual marketplace, and credits the healthcare law with allowing her to follow her entrepreneurial dreams.
Opponents of the Affordable Care Act (ACA) have spent years pleading their case against the healthcare law, making claims that it is bad for small businesses because it supposedly stifled job growth and increased costs for small firms. A new report, however, proves such arguments are flat-out wrong through hard data showing the ACA is critical to the success of California’s small businesses.
Earlier this month, the administration announced a proposal to sunset online enrollment for the federal small business health insurance marketplace, otherwise known as SHOP. It’s one more example of how the administration is determined to undo as much of the Affordable Care Act as possible, despite the fact that it's helping small business owners, their employees, and millions of Americans gain coverage.
As the owner of Pioneer Overhead Door in Las Vegas, Nevada I wear many hats: I’m the president, the general manager and most of the time I answer the phones. I have a lot of parts to play each day on the job and a lot of responsibility. That’s why I’m grateful for the fact that I haven’t had to worry about purchasing my group health insurance in years.
With the open enrollment period for health insurance rapidly approaching, many small business owners are probably starting to think about their plans for next year – and with lots of recent rumblings about the Affordable Care Act’s (ACA) success, some small business owners may be worried about their options. But for California’s small business owners, there’s actually plenty of good news about the ACA.
Scheduling open enrollment for health insurance at the end of the year is akin to driving on the Bay Bridge during rush hour. The journey could be long, slow and more than a little frustrating.
Unfortunately, November and December are exactly the times that many small businesses schedule open enrollment for their employees. Chris Patton, vice president of sales at Covered California for Small Business says open enrollment at the end of the year is a tradition that like many other end-of-year activities can be stressful.
With tax season in full bloom small business owners have an opportunity to not only reduce their tax liability, but also help their employees receive a coveted benefit – health insurance.
Through Covered California for Small Business (CCSB), employers may qualify for a federal tax credit to help offset the cost of providing health insurance to employees by purchasing coverage.
Small businesses are the backbone of America’s economy. Across the country, there are nearly 4.8 million businesses that employ 25 or fewer workers. They’re your local diner, the hardware store down the street, and the mechanic in your neighborhood.
Congress included in the Affordable Care Act a significant new tax credit for small business owners who provide their workers with health insurance. Under this new tax credit, businesses that have fewer than 25 full-time workers and average wages of less than $50,000 are now eligible to receive a tax credit of up to 35% of the cost of the health insurance that they provide for their workers.