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Senate bill to help employers avoid health care penalties

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in Small Business Tax Deduction Strategies

State Sen. David Koehler introduced an amendment to the state’s “Illinois Covered” universal health care bill. Senate Bill 5 (SB5) proposes a 3% penalty for employers who spend less than 4% of their payrolls on workers’ health insurance. Koehler’s amendment excludes employees who opt out of coverage because they are covered under their spouses’ plans.

Lawmakers are still trying to figure out how to pay for SB5, which would cost roughly $2 billion a year. 

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