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Committee Hears Support for Tax Credit to Help Small Employers Offer ICRA Health Benefits
Summary
Proponents told the House Ways and Means Committee that a $400-per-employee tax credit in House Bill 133 would encourage small employers to offer individual coverage health reimbursement arrangements (ICRAs), expanding insurance options for employees and helping small businesses manage benefit costs.
The House Ways and Means Committee took proponent testimony on House Bill 133, a measure to create a nonrefundable tax credit for small employers that offer individual coverage health reimbursement arrangements, or ICRAs.
Kathy (Kathy) Grayson, representing Oscar Health, described ICRAs as a defined-contribution approach that lets employers provide set amounts for employees to buy individual-market coverage. "By putting in place a tax credit, for employers that offer this product, this body would be creating the opportunity for this product to be discussed more widely," Grayson said. She told the committee Oscar…
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