Offer your employees affordable vision coverage for prescription eyeglasses and contacts, as well as regular exams with local Michigan optometrists and ophthalmologists.
At eHealthInsurance, we work with leading Michigan insurance providers to bring you the best vision insurance plans available. Get instant quotes, learn about plan benefits and apply online for Michigan group vision insurance.
Comprehensive vision care benefits - including coverage for exams and prescription eyewear - are not included in many health insurance plans, but don't overlook it! Vision benefits have actually increased in popularity over the years as more employers recognize that proper vision care is an important part of a comprehensive health benefits package.
In 2010, the President signed into law the Patient Protection and Affordable Care Act, which includes special federal tax credits for small businesses in Michigan offering vision insurance to employees. The credit is only available for tax years 2010-2013 and is designed to make health insurance benefits more affordable for small business owners before health reform is fully implemented in 2014.
The federal tax credit will reimburse qualifying small businesses in Michigan for up to 35% of the premiums they pay towards employee vision insurance. Tax-exempt organizations may qualify for a tax credit of up to 25%. To qualify for the full credit, the following criteria must be met:
Michigan small businesses with fewer than 10 full-time employees that pay average annual wages of $25,000 or less may qualify for the full credit. The amount of the credit is reduced for companies with more full-time workers and higher wages, until it is phased out entirely for those with 25 or more full-time workers and average annual wages over $50,000.
Because eligibility rules are based in part on the number of full-time employees, not the total number of all employees, Michigan small businesses that use part-time help may qualify even if they employ more than 25 individuals.