As a small group employer in Colorado you will have questions about why or why not purchase through Connect For Health Colorado and if it makes sense for your business, how to enroll without having a mess to deal with.
1. If you have white collar employees making mostly over $35,000 or $40,000 a year the tax credit is small may not be worth all the extra paperwork, the extra fees charged to be on the exchange and the limited options available.
2. If you have a workforce that is mostly making $10-15/ an hour it’s worth looking at Colorado Small Group Health Insurance through the Connect For Health SHOP.
3. If your business has lower paid workers, you have under 25 employees and qualify for Colorado Small Group Health Insurance through the Connect For Health SHOP you may be eligible for a tax CREDIT for two consecutive years that is 50% of the portion of the premiums paid by the employer. This can mean more than your regular business tax deduction in tax savings
Federal tax credits are available for small businesses and non profits to help cover the cost of health insurance for employees. Connect for Health Colorado is the only place where you can access this savings. In 2015, these tax credits will increase,paying up to 50 percent of premium costs for eligible small businesses and 35 percent of premium costs for eligible nonprofits
