Obamacare : Tax credit won’t get small businesses to offer health insurance
While more than 95,000 small employers in New Jersey are eligible to receive a tax credit from the Affordable Care Act to offset the cost of their workers’ health insurance, according to a report, an employment expert said the credit will not increase small businesses’ participation in providing insurance.
Small businesses with fewer than 25 full-time workers and average wages of less than $50,000 must cover at least 50 percent of each employee’s health insurance premiums to qualify for the tax credit — which covers up to 35 percent of costs of the insurance they provide to their workers, increasing to 50 percent in 2014. (Eder, NJBIZ)
