Health care tax credit that helps fuel Florida’s small businesses is going away

INVERNESS, Fla. — A health care tax credit that helps fuel Florida’s small businesses is going away.

Enhanced Affordable Care Act subsidies will be expiring this year, putting health insurance at risk for many Floridians. The expiration is affecting self-employed workers at a Citrus County salon.

On the second floor of Tangles Hair Salon & Day Spa, Tara McVicker does what she knows best.

“I get to nurture people,” McVicker said. “I get to take care of people. It’s not just doing skin care, it’s learning who these people are and their lifestyle.”

McVicker is an esthetician, having worked at the salon since 2020. Being self-employed means her health insurance is through the Affordable Care Act.

“To be able to have affordable insurance is really nothing less than a miracle,” McVicker said. “For us, to provide insurance for ourselves and our family at an affordable cost is something that gives us freedom to expand and not have that monkey on your back, worrying about getting sick.”

But two years into being enrolled, McVicker was diagnosed with breast cancer, undergoing three major surgeries. Her insurance meant a lot.

“Had I not had the health insurance that I had, I really don’t know what I would have done, because I was already having to take so much more time off from work that I anticipated,” she said.

Those tax premium credits made her insurance more affordable, as they do for many others like McVicker.

Sherry Brown is a nail technician working out of the salon. She said she relies on her coverage for prescriptions related to orthopedic issues.

“I think when they take those away, I don’t believe that I’ll be able to afford the prices of insurance,” said Brown. “I do have orthopedic issues and see a doctor for that. I’m on a couple of prescriptions that I probably won’t be able to afford so, that being said, yeah, we’re a little concerned about it.”

As for what they will do next, McVicker said she will have to make cutbacks. Hoping in the meantime, her coverage stays.

“All of these people that are hustling to make a buck on their own merit and run their business, they’re proud of being American,” McVicker said. “But they just need a little bit of help with these tax premiums so they can afford coverage for themselves and their family.”

While continuing to do the work she loves and sticking through with her family.

“This is what we do here — we’re like family with all of our clients,” she said.

It is estimated that 2 million Floridians will lose their health insurance coverage when those enhanced tax credits expire. Those subsidies are set to expire at the end of this year.