MS HB343

Employers with fewer than 50 employees may claim income tax credits for offering Individual Coverage Health Reimbursement Arrangements (ICHRAs) instead of traditional employer-provided health insurance plans

First-year credit is up to $400 per covered employee; second-year credit is up to $200 per covered employee, provided employer contributions meet or exceed prior year benefit levels

Total tax credits capped at $10 million per fiscal year, with claims approved chronologically until the limit is reached

Unused credits may be carried forward for 10 years; employers must report to the Department of Revenue every 3 years on whether they continued the ICHRA and benefit levels provided

Effective date is January 1, 2026