Posts Tagged ‘SHOP’

SHOP – The Real Reason Employees Will Love It

SHOP – The Real Reason Employees Will Love It

What is the SHOP?  SHOP stands for Small business Health Options Program , and it was established by health care reform as part of the state run marketplaces used to purchase health insurance plans for businesses with less than 50 employees.  The goal of the SHOP is to make it easier for small businesses to purchase a group health plan and to offer tax credits for doing so.  But is SHOP best for your employees and their families?

Small Employer Health Insurance Premium Tax Credit, All About It

Kelley-Jensen2Small Employer Health Insurance Premium Tax Credit, All About It:

Before Health Care Reform, there were no special federal tax incentives for small employers to offer health insurance coverage to their employees, other than an ordinary business deduction, and small business owners struggled with the expense of group coverage.  To encourage small employers to provide health insurance coverage for their employees, health care reform provides a small business tax credit for tax years beginning 2010, through 2015.

The credit is calculated on form 8941, as part of the employer’s annual federal tax return.  The most important things to know about the Credit for Small Employer Health Insurance Premiums:

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