Louisa works at a small business in the Boynton Beach area that has struggled for many years to provide health insurance coverage to its employees amid rising costs. Now, thanks to the Affordable Care Act, the burden is easing.
As General Manager of a small business, I am in charge of the health care [coverage] for our employees. Our premiums this year only increased 0.2% compared to double digit increases almost each and every year as long as I have managed this company. We also qualified for the small business tax credit for 2011. Finally the cost for the business to provide health insurance for our employees is coming down.
Millions of small businesses just like the one Louisa works for are now eligible for a tax credit to help pay for their health care premiums. The credit will increase to cover 50 percent of premium costs in 2014.