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Calculate Your Estimated Federal Small Business Tax Credit

New York’s Small Business Marketplace (SBM) made significant changes to expand the number of health plans available and to make it easier for participating small employers to access the Federal Small Business Health Care Tax Credit.

Eligible employers can now access tax credits by completing a short application and enrolling in Marketplace-certified plans directly with Univera Healthcare.  To make this even easier, all Univera small business plans—with the exception of Healthy NY—are being offered as Marketplace-certified health plans.

  • If you are a NY State of Health SBM certified broker, you can also complete this short employer application on behalf of your small group clients via your NY State of Health broker account.
  • Brokers also have the ability to submit multiple employer applications using one simple form.
  • For more information on how to submit multiple employer applications please email the small business marketplace at NYSOHbrokersupport@health.ny.gov.  

The Small Business Health Care Tax Credit is available to businesses if they:

  • Obtain a favorable eligibility determination from NY State of Health
  • Have fewer than 25 full-time equivalent employees
  • Pay average wages of less than $53,000 a year (2018) per full-time equivalent employee
  • Pay at least 50% towards employees lowest cost single tier coverage
  • Offer a SHOP-certified health plan to all full-time equivalent employees working at least 30 hours per week

The maximum tax credit is 50 percent of the employer contribution (35 percent for non-profit employers). 

For example:

  • An eligible employer receiving the maximum tax credit of 50 percent who contributed $30,000 toward employees’ premiums would be eligible to receive $15,000 back as a tax credit.

This fall, NY State of Health will launch a statewide small business-focused marketing effort including new materials, partnerships with state agencies, and digital and print advertising.  

New small business materials can be found on the NY State of Health website. To learn more about New York’s Small Business Marketplace:

For more information on claiming the tax credit please visit the IRS resource page.  

To calculate employers estimated tax credit visit, nystateofhealth.ny.gov/employer and click on the “Calculate your estimated tax credit” link.

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