With tax deadlines approaching, eligible small businesses can qualify for federal tax credits of up to 50% on premiums to help pay for the cost of providing health insurance. This exclusive tax credit is only available through Covered California for Small Business. For tax year 2023, the average wage of employees has increased from $58,000 to $62,000. Qualifying groups can apply this tax credit on their Federal Tax Return for two consecutive years.
For Small Business Clients that:
- have fewer than 25 full-time equivalent employees
- pay an average wage of less than $62,000 a year
- pay at least half of their employees’ health insurance premiums
Click here to learn more about how to put money back in their pocket!
Additionally, we’ve created two flyers you can share with your clients.
Click below to download these flyers: