Information for Small Business Employers

How will health reform affect small businesses?

Reform can have a positive economic effect on your small business sooner than you might think. For example, businesses with 25 or fewer full-time employees, and average annual wages of $50,000 or less, will be eligible for tax credits of up to 35 percent of premium costs beginning with the 2010 taxable year. The Affordable Care Act also provides tax credits for small businesses that contribute at least 50 percent of the premium cost for health coverage provided to employees. Furthermore, businesses with 50 or fewer employees will not, at any time, be penalized for failing to offer health insurance to employees. See the Illinois Department of Insurance fact sheet

Additionally, The Campaign for Better Health Care has pulled together several helpful documents that can answer this and other questions such as, “What’s in the Final Health Care Bill for Small Businesses?” and “How will health care reform strengthen the nation’s health workforce?”

Read the Small Business page for more information, and use the Tax Credit Calculator to find out your business’ eligibility for tax credit.

What other information is available to employers?

Other reliable sources of information can be found at the Illinois Department of Insurance and the
-Small Business Majority.

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