Small Business Healthcare Tax Incentive Makes Providing Health Insurance More Affordable

Small business owners may be getting a tax credit incentive for providing health insurance for their employees. The healthcare tax credit is available right now and can cover up to 35% of small business healthcare premium costs for those business owners who qualify.

Estimates from the fact sheet provided by whitehouse.gov say that around 4 million small businesses may be eligible for this tax credit if they provide healthcare for their workers. While the issue of healthcare is a highly debated topic, there is no one who would argue that providing health insurance for employees is going to be detrimental in any way.

Many employers are often concerned about the costs of providing healthcare benefits, but there are those who feel that by allowing their employees to have health insurance through the company that they work for employers are able to keep their workers more loyal and employees are happier in their job and will stay with the company longer, if for nothing less than the healthcare coverage.

This tax credit is also available for tax-exempt nonprofit organizations as well, and it is stated that businesses can claim this tax credit for the tax years 2010 through 2013. This tax incentive is hoped to help employers better afford the costs of providing healthcare for their employees or promote more business owners to seek out health care plans for their workers.

The IRS has mailed out postcards to small business owners informing them of this program and there can be more information obtained through the IRS website or whitehouse.gov