Baltimore County, MD BCUpFront, 26 Sep 2011

Previous Meeting Next Meeting

⏯

youtube image

►

From YouTube: Affordable Care Act

Description

Baltimore County Executive Kevin Kamenetz held a press conference announcing the availability of federal health care tax credits for small businesses with less than 25 employees who earn less than $50,000 per year. The Affordable Care Act, signed into law by President Obama in 2010, provides these substantial federal health care tax credits.

The Maryland Citizens' Health Initiative has been working hard to make sure that eligible Maryland small businesses know about the tax credit and take full advantage. Kamenetz invited the coalition to Baltimore County to inform small business owners about the tax credit availability.

The Maryland Citizens' Health Initiative has held events in Baltimore City , Wicomico, Charles, and Frederick counties with very good results. They identified over 100 small businesses that did not know about the tax credits, but are now taking advantage of them.

A

We're here today promoting a uh the affordable health care act that actually provides health care, tax credits for small businesses, those who have 25 or less employees uh whose employees make 50 000 or less and uh here today to help promote. It is jay agnoff, who is the senior advisor to health and human services secretary kathleen sebelius, so jay. First of all, thank you for coming to towson and give us a little sense of what uh this opportunity is all about.

B

Sure, well, thanks for having me here and the small business tax credit is one of the many benefits for business. That's in the afford that are in the affordable care act. The affordable care act provides many many business. Many many benefits for both large and small businesses, but particularly for small businesses and the small business tax credit is a tax credit that the congressional budget office estimates will save small businesses 40 billion dollars a year by the year. 2019.

B

small businesses with 25 or fewer workers get a tax credit of up to 35 percent until 2013, if they provide health insurance for their workers and a tax credit is of up to 50 percent in 2014 and 2015 if they provide health insurance for their workers. So it is a tremendous benefit for small businesses. It's obviously a tremendous benefit for employees.

B

It's a tremendous benefit for entrepreneurship, and it's something that's here today that businesses should take advantage of right now, because it's in effect right now. What's.

A

Great this is uh more information can be obtained by going to smallbusinesstaxcredits.org.

A

There's no cash involved here folks. So let's use these funds while, while they're available. Thank you.