Thousands of Kansas Businesses Eligible for Tax Credit
Topkea, KS – A report released today says more than 40,000 small businesses in Kansas will be eligible for tax credits to help pay for health insurance.
The federal health care law provides the tax credits for businesses with fewer than 25 employees.
Kathleen Stoll is with Families USA, a consumer advocacy group which commissioned the study. In a conference call with reporters, she said small businesses nationwide are struggling to pay for health insurance.
"Small businesses pay more because they don't have the economies of scale or the large size to leverage better prices, as do large businesses," said Stoll.
Stoll says nearly 90 percent of small businesses in Kansas will qualify for a tax break. The tax credits will equal up to 35% of the cost of providing health insurance. That will increase to 50 percent in 2014.