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Tax Credit Could Reduce Employers’ Cost To Provide Health Care Insurance

Nearly 7,400 small businesses in Montana may qualify for a tax credit of up to 35 percent of the health insurance premium they pay for their employees under the new federal health care legislation, according to the latest issue of Montana Business Quarterly.

“For employers wanting to reduce the cost of providing health insurance, the tax credit should ease the burden somewhat,” said Gregg Davis, director of health care industry research at The University of Montana’s Bureau of Business and Economic Research. “But employers should recognize that in some instances, the qualifying premium could be reduced because of caps set by the U.S. Department of Health and Human Services.”

Davis co-wrote the article, “The New Health Care Law: Montana’s First Steps,” with Jerry Furniss, a professor in UM’s School of Business Administration.

Full Story: http://news.umt.edu/2010/08/082610hlth.aspx

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