Small Business Health Care Relief Act Passes The House, Looks For Support In The Senate
The House of Representatives passed the bipartisan Small Business Healthcare Relief Act on June 21 to support small businesses who may be penalized for offering reimbursements for their employees’ individual healthcare premiums. The bill has also found bipartisan support within the Senate, where it is currently awaiting action.
Under current Internal Revenue Service rules, small business employers would be liable for an excise tax of up to $36,500 per year per employee for providing tax preferred dollars through a health reimbursement arrangement for workers to pay health premiums or other direct medical expenses. The Small Business Health Care Relief Act (H.R. 5447) ensures qualified small business employers can utilize health reimbursement arrangements to aid employees without the burden of compliance requirements and their associated penalties.
In the Senate, the bill has the support of Senators Michael Bennet (D-CO), Christopher Coons (D-DE), Corey Gardner (R-CO), Heidi Heitkamp (D-ND), Johnny Isakson (R-GA), Ron Johnson (R-WI), Rob Portman (R-OH), Lisa Murkowski (R-AK), Pat Roberts (R-KS), Jon Tester (D-MT), David Vitter (R-LA) and Mark Warner (D-VA).
PPAI has made it easy for industry members to encourage their senators to add their name to the Small Business Health Care Relief Act and give the relief small businesses need while allowing them to support their employees and their health care needs. Click here to take action.