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Benefits Of Healthcare Tax Credit Still Being Debated

Written by Jenna Weiner
Published: 4/29/2010

Some small businesses owners are still unsure whether healthcare tax credits will help.

The tax credits included in the government's healthcare reform legislation were supposed to be welcome financial news for entrepreneurs, but as Kaiser Health News reports, the reviews of small business owners are mixed so far.

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The credits were designed to help companies offer small business health insurance coverage, but the news organization says that some small employers are concerned they could actually become a burden.

Citing the U.S. Chamber of Commerce and the National Federation of Independent Business, Kaiser says the credits may not actually live up to their promise to help small businesses afford health insurance. Because receiving them depends on wages and the number of employees a business has, some small companies won't be eligible at all. The fact that the credits will only last six years has also been an issue.

Not all small business advocates believe the credits will be a problem, however. "I never met a small business owner who turned their nose up at six years of small business tax credits," John Arensmeyer, founder and CEO of the Small Business Majority, told Kaiser.

The latest controversy involving healthcare reform involves con artists in a number of states collecting money and personal information. The New York Times reports that these individuals have taken advantage of the confusion over the new law by impersonating government workers and insurance agents.

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