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| What is the state in which the business that provides insurance is physically located? | ||
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Year is considered calendar
year for the business.
year for the business.
Wages for this purpose means
wages, salary plus the value
of fringe benefits that are
subject to FICA withholding.
wages, salary plus the value
of fringe benefits that are
subject to FICA withholding.
Annual premium means the premium
payable (employer and employee share) for
the relevant type of health care coverage.
payable (employer and employee share) for
the relevant type of health care coverage.
Employee-only coverage means health
care coverage that covers only an
individual employee. In a report published
in October 2009, (Individual Health
Insurance 2009: A Comprehensive Survey
of Premiums, Availability, and Benefits)
employee-only coverage premiums average
$2,985 per year. This premium amount is
only an estimate. Since premium
amounts vary by state, age,health condition,
company size, etc., you may wish to
use the average amount your company
pays for employee-only coverage in your plan.
care coverage that covers only an
individual employee. In a report published
in October 2009, (Individual Health
Insurance 2009: A Comprehensive Survey
of Premiums, Availability, and Benefits)
employee-only coverage premiums average
$2,985 per year. This premium amount is
only an estimate. Since premium
amounts vary by state, age,health condition,
company size, etc., you may wish to
use the average amount your company
pays for employee-only coverage in your plan.
FT and PT employees references the
information entered in the Employee Information
section of this estimator.
information entered in the Employee Information
section of this estimator.
Family coverage means health care
coverage that covers an individual
employee and their family. In a report
published in October 2009, (Individual
Health Insurance 2009: A Comprehensive
Survey of Premiums, Availability, and
Benefits) family coverage premiums
average $6,328 per year. This premium
amount is only an estimate. Since premium
amounts vary by state, age, health condition,
company size, etc. you may wish to use
the average amount your company pays
for family coverage premiums in your plan.
coverage that covers an individual
employee and their family. In a report
published in October 2009, (Individual
Health Insurance 2009: A Comprehensive
Survey of Premiums, Availability, and
Benefits) family coverage premiums
average $6,328 per year. This premium
amount is only an estimate. Since premium
amounts vary by state, age, health condition,
company size, etc. you may wish to use
the average amount your company pays
for family coverage premiums in your plan.
Percentage means the employer share of premiums
paid. If this percentage varies by type of health
care coverage, use the percentage that applies to
FT employee-only coverage. You must pay at least
50% of the premium cost to be eligible for a tax
credit. After 2013, an employer with at least 50
employees must provide health care coverage
to its full-time employees and pay at least 60%
of the premium cost to avoid a tax penalty
paid. If this percentage varies by type of health
care coverage, use the percentage that applies to
FT employee-only coverage. You must pay at least
50% of the premium cost to be eligible for a tax
credit. After 2013, an employer with at least 50
employees must provide health care coverage
to its full-time employees and pay at least 60%
of the premium cost to avoid a tax penalty
Cadillac refers to health care plans
with premiums that exceed $10,200
for employee-only and $27,500 for
family annual coverage.
with premiums that exceed $10,200
for employee-only and $27,500 for
family annual coverage.
Employees means your employees
and leased employees. The term does
not include contractors (paid on
Form 1099-MISC),
2% shareholders (S corporation),
5% owners (C corporation) partners
(partnership), or yourself if you are
a sole proprietor.
and leased employees. The term does
not include contractors (paid on
Form 1099-MISC),
2% shareholders (S corporation),
5% owners (C corporation) partners
(partnership), or yourself if you are
a sole proprietor.
120 days means a 120-day period
which encompasses all of the days
worked by the employee, regardless
of the actual days worked in that
120-day period.
which encompasses all of the days
worked by the employee, regardless
of the actual days worked in that
120-day period.
FT employee: A FT employee
is one that works, on average, at
least 30 hours per week and does not
include family members considered
employees.
is one that works, on average, at
least 30 hours per week and does not
include family members considered
employees.
PT employee: A PT employee
is one that works, on average,
less than 30 hours per week.
is one that works, on average,
less than 30 hours per week.
Over-time means hours worked in
excess of 40 hours.
Wages for this purpose means
wages, salary plus the value
of fringe benefits that are
subject to FICA withholding.
excess of 40 hours.
Wages for this purpose means
wages, salary plus the value
of fringe benefits that are
subject to FICA withholding.
Calendar years
State caps : The credit may be capped
by the average premium amount
for the small business market
in the state where your business
is located. Business owners should
contact their tax professionals
for information on how the state
caps affect the credit.
by the average premium amount
for the small business market
in the state where your business
is located. Business owners should
contact their tax professionals
for information on how the state
caps affect the credit.
Health Care Reform
Small Group Credit Calculator
Step I
Step II
| 1. | How many full-time (FT) employees (working at least 30 hours a week) worked or will work for more than 120 days during the year? | |
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| 2. | Tell us the aggregate regular (not over-time) annual wages that were paid or will be paid to FT employees in #1. | |
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| 3. |
How many part-time (PT) employees worked or will work more than 120 days this year? |
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| 4. | Tell us the aggregate regular (not over-time) wages that were paid or will be paid to PT employees in #3. | |
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| 5. | Tell us the aggregate regular (not over-time) hours that were worked or will be worked by PT employees this year. | |
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Step III
| 6. | Tell us the annual premium per employee for employee-only coverage for the health insurance you offer or plan to offer. | |
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| 7. | Tell us the number of FT and PT employees you expect to sign up for (or request) employee-only coverage. | |
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| 8. | Tell us the annual premium per employee for family coverage for the health insurance you offer or plan to offer. | |
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| 9. | Tell us the number of FT and PT employees you expect to sign up for (or request) family coverage. | |
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| 10. | Tell us what percentage of insurance premiums you'll pay for your employees. | |
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Step IV
H&R Block does not offer Blue Cross and Blue Shield products or services. H&R Block and Independence Blue Cross are not affiliated companies. H&R Block is solely responsible for any tax advice it prepares, and Independence Blue Cross has no involvement in the content of such tax advice.