Allows tax credit for expenses incurred for medical insurance premiums and deductible payments for certain taxpayers under gross income tax.

This bill creates a New Jersey tax credit for eligible residents to offset costs of medical insurance premiums and deductibles. It applies to individuals earning under $65,000 annually (or couples under $130,000 filing jointly), with the credit amount calculated as total medical costs minus 8.5% of their gross income. Taxpayers cannot claim this credit for expenses already deducted under existing tax rules. The state must also advertise this credit to encourage regular medical visits.