Can Employers Obtain Tax Advantages Complying with Obama Care?
Posted by William Byrnes on February 15, 2016
It has been several years since President Obama pushed the Patient Protection and Affordable Care Act of 2010 (the “ACA”), which is a health care overhaul aimed at providing millions of American with health insurance, through Congress. Read the article here.
According to the White House, the goal of the ACA is to improve health security by: (1) creating comprehensive health insurance reform that provides more ways to hold insurance companies accountable, (2) lowering health care costs, (3) guaranteeing more health care options, and (4) enhancing the overall quality of the American health care system.
As many American, corporations and small businesses are aware, the gateway to an improved healthcare system commenced October 1, 2013 with the implementation of the exchange system. However, some may not be aware of the potential tax benefits awaiting employers. This highlight will specifically address the tax incentives that are available to both large and small businesses.