When you try and build your own small business towards success you will have to start thinking about it as an actual company. This primarily means giving health care benefits to your employees, if any, and yourself. This might seem like a challenging task because it is a lot different than just working for somebody else and having them present you with medical insurance options. As a small business owner, you have to research your options and choose the ones most suitable for your company. Whichever you choose your employees understand the value of health insurance provided by their employer and it is a benefit most workers want. Employers like Perfect Clicks that offer a group health insurance plan to their employees will increase people’s interest in wanting to work for them. It will also help employers find the right workers to hire and workers that will want to stay with the company. Ever since the 2010 Affordable Care Act was signed by President Obama, small businesses can now take advantage of special tax incentives for those that provide group health insurance options to their employees. However, there are still some employers who feel the premiums are not worth the incentives. Especially now since the children of employees will be covered on their family medical insurance plan until they are 26 years old. Weighing this versus the ability to attract more workers is something a small business owner has to figure out.
Small businesses used to pay about 18% more on medical insurance premiums than most large businesses. Thanks to the 2010 Affordable Care Act, the tax credits now give employers better rates on their company’s medical insurance plans. If a small business has fewer than 25 employees it will get a tax credit of up to 35% on the insurance costs. In 2014, this percentage will increase to 50% for businesses that qualify for it. Not only that, businesses with fewer than 100 employees can go to the Health Insurance Marketplace to purchase health coverage. This marketplace is similar to the one where large businesses go for quality choices and lower prices on insurance. Now small businesses and individual employees can take advantage of these same benefits. Even the members of the United States Congress will have to get their healthcare through this marketplace. President Obama believes in fairness and in the fact that small businesses employ more people than large businesses and so they deserve the same healthcare benefits. This is not only good for the people of America, but also for the stability of its economy.
