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Committee hears SB 635, a two‑year HRA tax credit for small employers; DRA flags administration issues
Summary
SB 635 would create a two-year tax credit for small employers contributing to individual coverage HRAs and qualified small employer HRAs (dollar-for-dollar up to $400 in year one, $200 in year two); DRA testified the bill contains technical eligibility and administration issues that need fixing before enactment.
Sen. Denise Ricciardi introduced SB 635 to incentivize small employers to adopt Health Reimbursement Arrangements (HRAs) that help employees pay for individual coverage or qualified small‑employer HRAs. The sponsor described the credit as a two‑year, employer‑contribution matched credit targeted at smaller employers to reduce the barrier to offering coverage alternatives.
John Reynolds of the National Federation of Independent Business (NFIB) testified in support, saying small employers consistently cite the cost of providing coverage as their top challenge and that a modest tax…
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