Posted by : Dan Levenson Saturday, November 15, 2014

Enrolling your employees in a small business health insurance plan does more than just help them stay healthy. The IRS can actually give you tax credits for doing it .


According to the IRS, a small employer is eligible if he has fewer than 25 workers employed full-time or a mix between full-time and part-time; furthermore, their average annual wages should not exceed $50,000. The employer should also pay uniform percentage for all employees equal to or more than 50% of the insurance coverage’s premium cost. Tax-exempt organizations falling under these factors may also qualify.


To claim your tax credits, fill in the IRS form 8941, also called Credit for Small Employer Health Insurance Premiums. For small businesses, you should include the amount in your tax return as part of the general business credit. For tax-exempt organizations on the other hand, include the amount in line 44f of form 990-T, or the Exempt Organization Business Income Tax Return.

Find an Insurance Provider

If you’re a small business owner who still hasn’t gotten around to getting insurance for his employees, then waste no time and look for a provider today. Many small business insurance companies like have excellent group health insurance plans that can cater to your business’ needs. Hurry and get a plan started so you can claim your tax credits.

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