Credit for Small Employer Health Insurance Premiums
Response to the following problem:
In 2014, Wainrite Company paid 80% of the total costs of each employee's premiums for a qualified health plan (QHP) offered through the SHOP Marketplace. The annual health care premiums for each employee are $12,000. All of Wainrite's employees work full-time.
a. Compute Wainrite's small employer health insurance credit if it has 8 full-time employees and average wages are $22,300.
b. Same as in Part a., except that average wages are $28,250.
c. Same as in Part a., except the Wainrite has 14 full-time employees.