Small Business Health Insurance California

California small business owners have the opportunity to learn about group medical plans and provide the health care that is needed to the employees and their families.

If you are a resident in California, you may have heard about small business health insurance providing a broad selection of California group medical insurance plans from brand-name California carriers. Also you may have heard of getting a kind of instant quotes free and making an application for small business insurance.

Federal Small Business Health Tax Credit for CA Small Businesses

The President signed into law the Patient Protection and Affordable Care Act, in the year 2010. The signing has in it a special federal tax credits for small businesses offering health insurance, dental insurance or vision insurance to employees. Although, the credit is only available for tax years 2010-2013 but it is created to make health insurance benefits more affordable for small business owners before health reform is fully implemented in 2014.

For any small business who are qualified for up to 35% of the premiums they pay towards employee medical, vision and dental insurance, the federal tax credit will reimburse them. Additionally, tax-exempt organizations may qualify for a tax credit of up to 25%. So in other to fully qualify for the full credit, the following requirement should be strictly followed:

1. The company employs fewer than 25 full-time workers (or equivalent)

2. Average annual wage per worker should be below $50,000

3. The employer has to be current or up to date with the payment of at least 50% of the total premium for employee coverage (dependents are not included).

Another advantage in small businesses with fewer than 10 full-time employees that pay average annual wages of $25,000 or less is that, there is possibility to qualify for the full credit. The total of the credit is reduced for companies who have more full-time workers and those with wages that is higher, until it is phased out entirely for those with 25 or more full-time workers and average annual wages over $50,000.

In conclusion, the total number of all employees and businesses that use part-time help may not qualify even if they employ more than 25 individuals. This is because of eligibility rules that are based are based in part on the number of full-time employees.

So, the truth is small business health insurance in California still have many advantages despite many strategies that are involved.



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