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Small businesses urged to use tax credits for health care

Baltimore Business Journal
Date: Monday, September 26, 2011, 2:45pm EDT

Baltimore County Executive and state health officials are urging small businesses to take advantage of federal tax credits offered to them for providing employees health coverage.

Kamenetz promoted the tax credits at a news conference Monday. Businesses with 25 employees or fewer can receive up to a 35 percent tax credit for paying at least half the premium costs for employees’ health insurance.

“This federal tax credit relieves financial pressure on local entrepreneurs while helping even more people access the health care they deserve,” Kamenetz said in a statement. “We urge every small business owner to run the numbers to see how this tax credit can help your bottom line and improve the health and quality of life for your employees.”

Kamenetz was joined by representatives from the Maryland Citizens’ Health Initiative, the U.S. Department of Health and Human Services, AARP Maryland, Small Business Majority, the Baltimore County Chamber of Commerce and Gov. Martin O’Malley’s Office of Health Care Reform.

The credit was created as part of federal health care reform in 2010. It is designed to encourage small employers to provide health insurance to their employees for the first time or to maintain existing insurance coverage.
Scott Dance covers Health Care, Minority Business, Utilities

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