Ohio House Passes Craig's Bill to Offer Innovative Healthcare Solutions for Small Employers
COLUMBUS, OH – The Ohio House of Representatives Wednesday unanimously passed House Bill 133 sponsored by Representative Meredith Craig (R-Smithville). This legislation will authorize a nonrefundable tax credit for small employers who offer Individual Coverage Health Reimbursement Arrangements (ICHRAs) to their employees.
The legislation works to encourage small businesses to adopt ICHRAs, helping to reduce the uninsured population, lower healthcare costs for employers, improve employee satisfaction, and expand healthcare choice and accessibility across Ohio.
ICHRAs were introduced under the first Trump Administration and offer a transformative option in the health insurance marketplace. They are compliant with the Affordable Care Act, compatible with Health Savings Accounts, and allow employers to set aside tax advantaged dollars for employees to purchase individual plans that fit their unique needs.
"House Bill 133 puts Ohio on the cutting edge of healthcare innovation by giving small businesses the tools they need to offer flexible, affordable coverage," said Craig. “By incentivizing the use of ICHRAs, we’re not just expanding access to care. We’re empowering employers and employees alike with choice, control, and real, sustainable solutions."
Under House Bill 133, the tax credit would be available to employers who meet the following criteria:
Have between 2 and 50 employees
Offer ICHRAs to all or some of their employees
Contribute at least $400 per employee toward the ICHRA in a taxable year
Employers who meet these conditions would be eligible for a $400 nonrefundable tax credit per employee covered by the ICHRA.
House Bill 133 is a common-sense, forward-thinking piece of legislation that stands to lead the nation in a growing market.
The bill now heads to the Senate.