Tax Credits for Employer Sponsored Health Insurance?

Eligible employers may qualify to receive a tax credit for contributions they make to health savings accounts or insurance plans for their employees. The tax credit will equal $70 per eligible employee per month and gradually decline over a three year period.

How does it work? Any small business, association or trust that has between 2 and 50 employees and has not contributed to any health insurance premium or health savings account on behalf of an employee within the preceding two years is eligible.

Businesses that have been in existence for less than two years and have not provided any health insurance or made health savings account contributions for employees may also take advantage of the program. Self-insured plans are not eligible. For more information call the Chamber at 275-3264 or chamber@gcnet.com