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Originally Posted by Clip-Clop
Sounds like a forecast, I have read 12 in most opinion pieces but see nothing that is written in the actual law yet. Though I am only on page 677 so far. As a small business owner whose employees make a decent wage all I have seen so far has not been pleasant.
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You don't like those healthy tax credits you get? You can use them this year. And if you don't provide your employees with insurance, nothing will change for you. You don't have to. But they will have more affordable insurance private insurance available to them on exchanges. What isn't to like about that?
Pretty simple: you keep providing insurance as you do now, and gain huge tax credits; or you do not have to provide insurance, and nothing changes for you.
What part do you fear is "not pleasant"? What specifically are you talking about?
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Can I get tax credits for providing insurance to my employees?
If you have up to 25 employees, pay average annual wages below $50,000, and provide health insurance, you may qualify for a small business tax credit of up to 35% (up to 25% for non-profits) to offset the cost of your insurance. This will bring down the cost of providing insurance.
Starting in 2014, the small business tax credit goes up to 50% (up to 35% for non-profits) for qualifying businesses. This makes the cost of providing insurance even lower.
Do I have to provide health insurance to my employees?
The Affordable Care Act does not require employers to provide health insurance for their employees.
The Employer Responsibility provision of the Affordable Care Act applies businesses with more than 50 full-time workers. To learn more read the Employer Bulletin on Automatic Enrollment, Employer Responsibility, and Waiting Periods.
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Extending the life of Medicare isn't written in the law, it's CBO analysis of the impact on the costs of our healthcare.