A report released by Democrats on the House Committee on SmallBusiness noted that small businesses are finding it easier tosecure medical coverage for their employees, thanks to a new taxcredit enacted through the Patient Protection and Affordable CareAct. The report explained that a tax credit offered through the ACAprovides $40 billion in relief for small business owners.

The report found that as many as 6.7 million small businesseswill be eligible to claim the tax credit; and the credit has thepotential to reduce annual out-of-pocket health insurance costs foreach employee by $3,500.

Along those lines, as many as 650,000 firms that didn’t offercoverage in 2009 began offering coverage in 2010, and between 2009and 2010, coverage rates grew from 46 percent to 59 percent afterthe tax credit became available.

“Small businesses’ health premiums have skyrocketed over thelast 10 years, making it difficult for firms to afford coverage fortheir employees,” said Rep. Nydia M. Velazquez, D-N.Y., the RankingMember of the House Committee on Small Business in a preparedstatement. “It is clear the new tax credit is already enabling morebusinesses to offer their workers health insurance.”

For more information about the report, accesshttp://www.house.gov/velazquez