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View Diary: Response to Meteor Blades -- Progressive Health Care Lines in the Sand (32 comments)

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    Surly Cracker

    I'm running off an older version of the bill (with the small business exemption at the old 250K) -- but I think the same incentive provisions remain in the latest version.

    But -- essentially -- the incentive side of things allows the business that does offer the coverage an allowance of 50% of the coverage costs against tax liability.   I'm not a tax attorney - so it's possible that I'm way off base here - but my reading is that the business can basically deduct up to half of the costs of providing health coverage against their overall tax liability.

    If my reading of it is right - that's not an adjustment to income/revenue - rather, it's a direct deduction of (up to half) of the costs of providing coverage.

    The 50% rate applies in total to the lowest tiers on the scale.

    Sooo... I believe that if it costs me - the employer - 25K a year to provide health coverage, I can deduct 12.5K directly from my tax bill.

    I guess everyone's got their own blog now.

    by zonk on Tue Aug 11, 2009 at 12:30:06 PM PDT

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