Relatively few employers are claiming the Small Business Health Care Tax Credit under the Affordable Care Act, according to a new government report.
The report, from the Government Accountability Office, found that claims for the small employer health tax credit have continued to be lower than thought eligible by government agency and small business group estimates, limiting the effect of the credit on expanding health insurance coverage through small employers. In 2014, approximately 181,000 employers claimed the credit, down somewhat from 2010. These numbers are relatively low compared to the number of employers eligible for the credit. The GAO issued the report as part of testimony by James R. McTigue Jr., director of strategic issues, during a hearing Tuesday before the House Committee on Small Business’s Subcommittee on Economic Growth, Tax and Capital Access.
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