Income tax; authorize credit for certain employers providing individual coverage health reimbursement arrangement (ICHRA) to employees.

HB 343 creates a Mississippi state income tax credit for small employers (fewer than 50 employees) who replace traditional group health insurance with Individual Coverage Health Reimbursement Arrangements (ICHRA). The credit provides up to $400 per covered employee in the first year and $200 in the second year, tied to maintaining or matching prior coverage levels. Employers must report every three years on ICHRA continuation and benefits, and the total annual credit limit is capped at $10 million. The bill takes effect January 1, 2026, and applies to employers claiming the credit on their state tax returns.