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Health Reform for Small Businesses

How health reform can help your bottom line

Grants and Tax Credits to help with Health Care Costs

Whether you currently provide health benefits, or want to begin to offer health insurance, there’s help to make health care more affordable.

You may earn Maryland’s Small Business Grants if you have:

  • 2-9 full-time employees
  • With average yearly wages under $50,000
  • You have not offered health insurance in the last 12 months

These grants can lower your health insurance costs by up to 50% and there are multiple plan options so you can choose one that fits your business needs.

You may also earn Federal Health Care Tax Credits if you are a:

  • Small business, nonprofit with 25 or fewer full-time employees or self-employed
  • With annual wages under $50,000
  • You, the employer, pay at least 50% of the employee-only premium

The tax applies to employers who currently offer health insurance or want to start. Available tax credits could be as much as 35% (25% for non-profits) of “employer eligible premium expenses.”

For more information, talk with your accountant,  insurance broker, or contact us.