HB343

Mississippi HB343 authorizes an income tax credit for employers offering Individual Coverage Health Reimbursement Arrangements (ICHRA) to employees.

Mississippi HB343 allows employers with fewer than fifty employees to claim an income tax credit for offering Individual Coverage Health Reimbursement Arrangements (ICHRA) instead of traditional employer-provided health insurance plans. For the first taxable year, employers can claim up to $400 per covered employee, and for the second year, up to $200 per covered employee. The total credit amount cannot exceed $10 million annually. Employers must report to the Department of Revenue every three years on the continuation of the ICHRA and the benefits provided.