Health Reform Perks: Employer tax credits could benefit your practice

By now, you’re probably well versed in the clinical aspects of the health reform bill signed by President Obama in March. But what you may not know is that the bill includes a section that could benefit otolaryngologists and other physicians in their role as employers.

Beginning this tax year, the bill offers small businesses tax credits to purchase health insurance for their employees. But the Patient Protection and Affordable Care Act also includes penalties for businesses that have 50 or more employees and don’t provide coverage.

The tax credit provisions are a positive development for some physician practices, said Allison Brown, a government affairs representative for the Medical Group Management Association (MGMA). “Like an employer in any industry, physicians are more competitive if they’re able to offer health care coverage, and if this helps a business thinking about dropping coverage because of the rise in costs to retain insurance, then it certainly is a benefit,” Brown said.