Tax credits through the IRS are available for both for-profit and tax-exempt organizations to help cover the cost of coverage for employees under the New Jersey Marketplace. Starting in 2014, the credit will increase to cover 50 percent of premium costs. To qualify, small employers must:
- Provide health insurance to employees and cover at least 50 percent of the cost of coverage.
- Employ fewer than 25 full-time workers (employers with fewer than 50 part-time workers may be eligible).
Pay average annual wages below $50,000. Estimate your tax credit using our calculator here.