Business Health Insurance Tax Credit–Are Health Care Options Affordable For Business Owners?

Many small business owners who provide health insurance for their employees understand that this cost can be expensive but a tax credit for business owners may make paying the premiums more affordable. While there are some companies who do not provide healthcare coverage for their workers, those who do or who are considering a health insurance plan for their workers may be able to use the tax credit to help cut the costs of paying premiums.

The IRS website has detailed eligibility requirements and information regarding this tax credit for small business owners, as there are tax credits to be claimed for tax years 2010 to 2013. Again, any small business owner who qualifies for the tax credit may be able to have the cost they pay for employee health insurance premiums covered so that they can save money on employee health care costs.

There are many small business owners who would argue that providing small business health insurance for their employees is beneficial and a variety of ways. For example, companies who are concerned with their employees will benefit when they provide employer group health insurance for their workers. Some workers who may have a pre-existing condition might be unable to get health care coverage on their own, but with an employer group health insurance plan they cannot be denied coverage even with a pre-existing condition.

Also, keeping employees happy can go along way in making a business more profitable and successful due to the fact that the longer an employee or group of employees work for their company the more they can learn about the running of that corporation and the more of an asset they will be. If the company offers an excellent health insurance plan they are also more likely to attract a higher caliber of workers, which will obviously be beneficial as well.

A small business owner who provides health insurance for their workers may want to consult the IRS website to see if they are eligible to claim this tax credit on worker health insurance premiums for the years 2010 through 2013.