Small Business Healthcare Tax Credit Calculator

If you have health insurance coverage for your small business and it’s employees you may be able to claim a Small Business Health Care Tax Credit worth up to 50% of your premium contributions, (up to 35 percent for tax-exempt employers.)

To qualify for the small business health insurance tax credit, all of the following must apply:

You have fewer than 25 full-time equivalent (FTE) employees
Your average employee salary is about $50,000 per year or less
You pay at least 50% of your full-time employees’ premium costs
You have employees enrolled in coverage through the SHOP Marketplace

You don’t need to offer coverage to your part-time employees (those working fewer than 30 hours per week) or to dependents to qualify for the tax credit.

The Tax Credit Estimator can help determine if your business may qualify for the Small Business Health Care Tax Credit, and if it does, how much it could be worth to you.

Visit HealthCare.gov/small-businesses/small-business-tax-credit-calculator/

Need more help figuring out your companies health insurance tax credits? We can help. Contact us at 866-217-2873.

RK Asset Management is a qualified and experienced broker that is dedicated to helping our small business clients. We are experts in helping businesses purchase insurance through the SHOP Exchange (Small Business Health Plan Options) to ensure a quick and easy process for you. In order to qualify for a business tax credit your group plan must be purchase through the exchange. Existing small group health plans purchased directly from a carrier do not qualify for the tax credit.