Please fill all required fields

    Health Insurance Tax Credit Calculator

    This calculator is designed to illustrate the savings you will receive through the new Health Insurance Tax Credit.  It calculates the maximum credit along with any reductions based on the number of Full Time Equivalent employees and average annual staff wages paid by your practice.  The net tax benefit received is calculated by reducing the final tax credit available by the value of the health insurance tax deduction lost by the practice.  
    Input Variables:
    Annual Premiums Paid for Staff 
    Percentage of Premiums Paid by Practice (must be at least 50%)
    Current Marginal Tax Rate (federal and state)
    Number of Hours a Full Time Employee Works Per Week
    Employee Names (excluding owners and family members) Wages
    Actual Hours Worked
    A. Calculation of Tentative Credit          
    B. Calculation of Reduction in Credit for Number of Full Time Equivalent (FTE)   
      Employees Greater than 10 or Average Annual Wages Over $25,000      
      Total Annual Hours Worked for all Employees (Weeks Worked Equivalency)  
      Total Annual Wages Paid to Employees        
      Credit Reduction for Number of FTEs Above 10        
    Credit Reduction for Average Annual Wages Above $25,000
    Final Tax Credit Available
    (will be subtracted from Premiums Paid deduction)
    C. Net Tax Benefit Received        
    Value of Tax Deduction Lost Due to the Reduction of 
    Health Insurance Premiums Deducted by Practice
      Net Tax Benefit Received