• All
• Carrier News
• COVID-19
• Healthcare Reform
• Industry News

Are You Capitalizing on The Health Care Tax Credit?

Jan 30, 2023, 2 Minute Read

Cost concerns and rising inflation are top healthcare challenges for small businesses. Offer your clients and prospects savings of up to 50% on health care premiums for up to two years with the Health Care Tax Credit – only available through Covered California for Small Business (CCSB). To maximize your clients’ savings, move them into a Covered California for Small Business plan this year.

Use our simple turnkey Health Care Tax Credit Solution to ensure your clients get the most for their health care dollars. Provide us with some basic group information and we’ll estimate the Tax Credit percentage and dollar amount for which your client will qualify.

The tax credit depends on several factors such as:

• Number of employees: The business must have less than 25 full-time equivalent employees (FTEs). Owners and immediate family members of the owner are not counted as employees when calculating the tax credit.
• Average wage of employees: The employees must have an average annual wage of less than $56,000 per year. This limit has been adjusted for inflation since 2014.
• Employer-paid premiums: The employer must contribute at least 50% of the cost of insurance coverage for each employee.

Results we’ve seen so far:

• 75% qualified for the tax credit.
• Nearly 25% of those purchased coverage after reviewing the tax credit report.
• $5,800 was the average credit received.

Example of a tax credits received by a small business:

Bring the Tax Credit value to your clients.

Partner with Claremont for:

• Help understanding employers’ needs to deliver the right benefits solutions.
• Assistance with small group sales, enrollments, and renewals.
• Actionable solutions and practical tips, such as:
  – Advantages for Agents and Employers
  – Agent Resources
  – Health Care Tax Credit Solution
  – Top 20 Lowest Cost Medical Plans
• Expertise and support behind the scenes — all at no cost to you.

Claremont has been a trusted CCSB partner since its 2014 launch, and we are a top producing general agency in our sales territory. From agent certification and quoting to assessing new group eligibility and resolving post-enrollment issues, our CCSB experts will provide guidance and support every step of the way.

Questions?
Contact The Answer Team at 800.696.4543 or info@claremontcompanies.com.

Get The Latest News with Text Messaging!

Your success is important to us, and we’re actively working on new solutions to support you throughout the year. To get the latest news via text messaging in the future, simply provide your cell phone number here.

Sign Up for Text Messaging