Form 8941 is used by eligible small employers to calculate their credit for small employer health insurance premiums. The maximum credit is typically a percentage of premiums the employer paid during the tax year for certain coverages the employer provided to certain employees enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace.
Am I an eligible small employer?
If you meet the following three requirements, you're an eligible small employer:
- You paid premiums for employee health insurance coverage under a qualifying arrangement.
- You had fewer than 25 full-time equivalent employees (FTEs) for the tax year.
- You paid average annual wages of less than $62,000 per FTE.
Where do I claim the credit?
To claim the credit for small employer health insurance premiums, please follow the steps below.
- Federal
- Deductions
- Choose to select your forms, then press continue
- Credits
- Small Employer Health Insurance Premiums