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Committee backs $600-per-employee small-employer health credit with $5 million cap
2482322 · March 3, 2025
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Summary
HB341 would create a per-employee tax credit to help very small employers purchase individual coverage; sponsors said the annual cap was reduced from $25 million to $5 million and eligibility tightened to employers of 10 or fewer.
The committee advanced HB341, a bill that would provide a tax credit to small employers to help employees obtain individual health coverage. Representative Newton, the sponsor, described the substitute as a $600-per-year tax credit that phases down over five years and now carries a flat $5 million annual cap.
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