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Life Health > Health Insurance > Health Insurance

Iowa Senate approves small-group incentive

By Associated Press

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DES MOINES, Iowa (AP) — The Iowa Senate voted 50-0 Monday to approve Senate File 449, a bill that would provide a tax break for small businesses that help employees pay for health insurance.

Under the Patient Protection and Affordable Care Act (PPACA), a small business that employs up to 24 people and chooses to cover 50 percent of their employees’ health insurance costs can qualify for a federal income tax break.

If S.F. 449 is implemented as written, the same businesses would get an additional state income tax break, worth a quarter of the federal savings.

The legislation will move to the House. A spokesman for Gov. Terry Branstad said he would have to review the legislation before taking a position.

The Senate previously was considering similar versions of the bill with the bill numbers S.F. 412 and LSB 1223SZ.

Allison Bell contributed information to this article.

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