44,000 CT small businesses eligible for health insurance tax breaks

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Thanks to national health reform 44,000 CT businesses are eligible for tax credits making health insurance more affordable. Starting this year, businesses with less than 25 workers and average wages up to $50,000 are eligible for credits up to 35% of the employer’s cost of health benefits (25% for nonprofits). 12,900 CT businesses qualify for the largest credits which go to the smallest businesses (under 10 workers) with the lowest average wages (up to $25,000). In 2014, the credits increase but are limited to coverage purchased in the new (yet to be created) health insurance exchange and will expire after two years.
This is very important relief both to CT businesses and CT’s uninsured. CT small businesses pay the highest single premiums and half of CT’s uninsured work in businesses with less than 25 workers.
Ellen Andrews