Click to Book
Put Money Back In Your Pocket With CoveredCA Tax Credits
The Small Business Health Options Program (SHOP) is a health insurance marketplace developed for businesses with one to 100 eligible employees. This new program is designed for employers to regain control of their health insurance budget while allowing the employees to choose from affordable, quality and popular health insurance plans from private health insurance companies.
The Benefits:
Businesses can qualify for up to 50% of premiums paid for through CoveredCA Tax Credits and further claim business expense deduction for the premiums in excess of the tax credit.
The ability to offer employees quality health insurance is a competitive advantage in the labor market. Let us help you do so while putting money back in your pocket.
Calculate Your Tax Credits : (949) 891 2724
PlanThru.com will Help Your Business:
- Offer Competitive and Flexible Benefits
- Put Money Back in your pocket with Tax Credits
- Get up to 50% of employee premiums Paid For
- Claim a Business Expense Deduction for the Premiums
- Gain Control of Benefit Budget
- Get Quick and Easy Enrollment
- Manage Employee Enrollment and Day-to-Day Changes and Requests
Frequently Asked Questions:
Got questions? We have got answers for you. Here are some popular questions asked by our customers.
Who is eligible for the tax credit?
Small employers that provide healthcare coverage are eligible (a “qualified employer”) if:
- They have fewer than 25 full-time equivalent employees (FTEs)* for the tax year
- The average annual wages paid are less than $50,000** per FTE
- The employer pays at least 50% of the employee’s premium cost
Are employers required to provide insurance to their employees?
The new health care law, the Affordable Care Act, does not require small employers to offer health care
coverage. Employers with 1-50 eligible employees will not be subject to penalties for not providing health
coverage. However, there are many advantages to the employer. These include: Employee Loyalty & Retention, Productivity, Tax Advantages, Budget Control, and Aggregate Billing.
What happens if I do not cover my employees?
Businesses with 50 or fewer eligible employees are not subject to penalties if they do not provide health coverage to their employees. Businesses with greater than 50 eligible employees are not subject to tax penalties for the 2014 tax year.
How much is a small business owner required to contribute to employee premiums?
To participate in Covered California’s SHOP, employers must contribute a minimum of 50 percent of
employee-only premium amount of their selected anchor plan (or reference plan).
