Congress included in the Affordable Care Act a significant new tax credit for small business owners who provide their workers with health insurance. Under this new tax credit, businesses that have fewer than 25 full-time workers and average wages of less than $50,000 are now eligible to receive a tax credit of up to 35% of the cost of the health insurance that they provide for their workers.
Affordable Care Act
The Supreme Court is expected to hand down its decision any day in the case against the Affordable Care Act, filed by the National Federation of Independent Business (NFIB) and state attorneys general. The polling of 800 small business owners in eight states (Florida, Illinois, Louisiana, Michigan, Missouri, New York, Texas and Virginia) found 50% of small business owners want the healthcare reform law upheld—either as is or with minor changes—while only one-third want the Supreme Court to overturn it.
Small Business Majority scientific opinion polling found small businesses favor the Affordable Care Act over the Republican replacement plan, the American Health Care Act (AHCA) by a 2:1 ratio.
In today’s political climate, a lot of political leaders talk about wanting to help small business, but oftentimes don’t take their actual comments and concerns into consideration when working on key policy issues, like tax reform and healthcare. That’s why we tackled this challenge head on at Small Business Majority’s 2017 Policy Forum, which brought 50 small business leaders from around the country to our nation’s capital to discuss how to promote policy reforms that will help small businesses thrive.
Open enrollment to purchase health insurance plans for 2018 through the Affordable Care Act (ACA) individual marketplaces has started and there are some important changes for small business owners to note this year. If you’re a self-employed entrepreneur or have employees who need coverage through Healthcare.gov, check out these key facts about this year’s open enrollment below.
Michelle Mauricci, a true entrepreneur, has owned not one, not two, but three small businesses. Her current business, Think Possible, located in Reno, Nevada, is a personal business-consulting firm that helps entrepreneurs navigate their health coverage options under the Affordable Care Act (ACA), among other services. Michelle also receives her own coverage through the ACA’s individual marketplace, and credits the healthcare law with allowing her to follow her entrepreneurial dreams.
Some lawmakers may be intent on repealing and replacing the Patient Protection & Affordable Care Act (ACA), but our new scientific opinion polling released today shows small business owners support the ACA over the American Health Care Act (AHCA), the Republican plan to replace the law currently being considered in Congress.
Here are 5 key takeaways from our poll:
At Resilient Beauty Bar in Fairfield, CA, you’ll experience a warm and inviting atmosphere where the wellbeing of the client takes priority. The proud owner, Dee Naylor, has been a beauty professional and stylist for more than fifteen years, and hopes to eventually open a second location. But her plans to expand her business are on hold, as they hinge on the future of the Affordable Care Act.
Lawmakers who dream of gutting the Affordable Care Act (ACA) do not seem to care about its importance to small business owners, particularly those who are solo entrepreneurs. What these politicians fail to understand is that the health care law is the first meaningful insurance reform available to entrepreneurs in decades. In fact, for many self-employed business owners, their firms would not exist without it. That’s why repealing the law is going to be a sizable setback for entrepreneurship.
Maricar Tinio is an example of the quintessential entrepreneur. In addition to having over fifteen years of experience in the legal industry, she is a three-time cancer survivor who has started and co-owned several businesses. Her most recent venture is Mardavis Group, Inc., a legal recruiting firm in Chicago that she launched just last year. But unfortunately her new business may come to a standstill if the Affordable Care Act (ACA) is repealed.