That Awful, No Good Health Care Law

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JONATHAN COHN NOVEMBER 2, 2010

That Awful, No Good Health Care Law

Things you probably know already: The small business lobby hates the Affordable Care Act.

Things you probably don't know already: The Affordable Care Act has a tax credit for small business and, thanks to that credit, more small businesses are already starting to get health insurance for their workers.

From Janet Adamy at the Wall Street Journal:

The number of small businesses offering health insurance to workers is projected to increase sharply this year, recent data show, a shift that researchers attribute to a tax credit in the health law. Many small businesses, however, remain opposed to the law.

Some small businesses are benefiting from portions of the law, which includes a tax credit beginning this year that covers as much as 35% of a company's insurance premiums.

According to a report by Bernstein Research in New York, the percentage of employers with between three and nine workers and which are offering insurance has increased to 59% this year, up from 46% last year. The report relies on data from a September survey by the nonprofit Kaiser Family Foundation.

A full tax credit is available to employers with 10 or fewer full-time workers and average annual wages of less than $25,000. The credit phases out gradually and has a cap at employers with 25 workers and average annual wages of $50,000. The White House estimates that 4 million employers will qualify for the credit.

(h/t Ezra Klein's Wonkbook.)

Update: Igor Volsky has more analysis.

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posted in: jonathan cohn, wall street journal, janet adamy

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