Changes are coming in the way small businesses enroll in Obamacare.
Changes are coming in the way small businesses enroll in Obamacare.
Be aware, under a rule going to be proposed by the Centers for Medicare & Medicaid Services, small firms would no longer use the HealthCare.gov website to enroll in SHOP (Small Business Health Options Program). Instead, beginning on Jan. 1, 2018, employers would instead enroll directly with an insurer, agent or broker offering the SHOP plans.
This move could make it easier for small firms to qualify for tax credits, since they would no longer have to buy group insurance through SHOP to receive it. Firms with fewer than 25 full-time workers can qualify for a tax credit of up to 50% of employer premium contributions. So far, SHOP covers about 230,000 individuals.
However, the ability to comparison shop likely would disappear. Choices would be limited to a single plan or just a few options offered by a single insurer.
About the Author Larry Heinkel J.D. LL.M
Larry Heinkel is a tax and bankruptcy attorney with more than 38 years experience helping businesses and individuals, solve their state and federal tax problems. Mr. Heinkel has been extremely successful in representing his clients before IRS and DOR, and is known throughout Florida as an expert in tax problem resolution.
Related Posts
IRS Cracks Down on Non-Filers: Are You Prepared?
IRS Audit Focus Remains on Middle-Class Taxpayers
IRS Updates Guidance on Handling Special State Tax Payments
IRS Skirted Rules on Directly Contacting Represented Taxpayers
IRS Ends Unannounced Visits to Protect Agents
IRS Agent: ‘I Can Go Into Anyone’s House at Any Time’
The IRS Flags Over 1 Million Tax Returns for Possible Identity Fraud
An Installment Agreement May Be Your Best Tax Resolution Option
