The Affordable Care Act established new tax credits for certain small employers to make it more affordable to cover their employees. Eligible employers can achieve even greater savings by using these tax credits in tandem with participating in the Health Connector’s new ConnectWell program, which qualifies them for up to an additional 15 percent premium rebate.
Employers can get up to a 50 percent federal tax credit when they buy health insurance through the Health Connector, if they:
- have 25 or fewer full-time employees, and
- pay average annual wages below $50,000, and
- pay at least half of the premiums for employee health insurance.
The Health Connector also exclusively offers ConnectWell, a free program offered to eligible employers enrolled in a small business group health plan through the Health Connector. Employers who are not the sole owner and employee of a company and who have fewer than 25 employees total are eligible for the program. Eligible employers who participate may qualify for a ConnectWell rebate of up to 15 percent on their group’s health insurance premium contribution for coverage purchased through the Health Connector.