A new tax credit that will be providing small business owners the opportunity to have a percentage of the costs they incur for providing health insurance for their workers covered up to a certain amount. For the tax years 2010 to 2013 a maximum tax credit allowance for providing health insurance could be up to 35% of the amount an employer pays in premiums for providing healthcare.
Small business owners sometimes neglect to provide health care to workers because they worry about the costs associated with doing so. However, there are many small business owners who would argue that providing health insurance for employees is easily affordable and can yield benefits to their company.
Employees are the backbone to any company and no matter the size of an institution or corporation it will be nothing without its workers. It is for this reason that many business owners say that providing a healthcare plan, especially for a small business, is going to keep employees happier since they will feel more secure in their jobs and they can keep them more loyal to a company when they know that they will be covered if a sudden illness or injury occurs.
The costs of health care in our nation are rising rapidly, but when the risk is spread out over a large number of people it can make an insurance plan become more affordable for a small business owner. Health insurance is something that every employer should provide for their workers as bills stemming from medical related costs have caused many people a great deal of financial strain and even bankruptcy.
Any small business owner who may want to buy health insurance for their workers or look into the tax credit option for their business should consult the IRS website and, hopefully begin to make plans to not only provide health insurance benefits for their workers in the short term but make them a permanent part of the business.