MS HB1667

Authorizes income tax credit for qualified employers with fewer than 50 employees that offer Individual Coverage Health Reimbursement Arrangements (ICHRA) instead of traditional health insurance plans.

First-year credit of up to $400 per covered employee if employer contribution equals or exceeds prior year benefit levels or prior health insurance plan contributions; second-year credit of up to $200 per covered employee.

Qualified employers must report to Department of Revenue every three years detailing whether ICHRA continued and benefit levels provided.

Total tax credits approved statewide cannot exceed $10,000,000 per fiscal year, with claims approved in chronological order of filing; unused credits may carry forward for ten years.

Takes effect January 1, 2026, and requires Department of Revenue to adopt administrative rules.