Nan Warshaw owns a record company in Chicago , Illinois , and makes the health insurance decisions for her seven person staff. Her company covers the full cost of insurance for her employees. Like other small business owners, she has seen premiums skyrocket in recent years. But thanks to the tax credits for small businesses in the Affordable Care Act, providing health insurance for her employees will be a little easier.
Today, small businesses pay 18 percent more for health insurance premiums than large businesses. The Affordable Care Act changes that by providing tax credits for small businesses that offer employees health insurance. Up to 4 million small businesses could be eligible for relief from high health insurance premiums and, according to the independent Congressional Budget Office, the tax credit will save small businesses $40 billion by 2019. And the tax credit is available to small business owners like Nan today.
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