by Donald Eng
Connecticut small businesses can now access a state tax credit to help offer health insurance to their employees through a law passed earlier this year, Gov. Ned Lamont said Tuesday.
Eligible businesses, which include those with 50 or fewer employees, can receive a tax credit of up to $1,000 per employee per year when they offer an Individual Coverage Health Reimbursement Arrangement (ICHRA) through Access Health CT, the state’s official health insurance marketplace, using the BusinessPlus platform. The credit is available for the first two consecutive years an employer offers an ICHRA.
“Through this tax credit, we can encourage more small businesses to offer health coverage to their employees, keeping more people in Connecticut insured while also offsetting their premiums,” Lamont said. “This approach enables workers to choose the plan that best fits their needs, lower their costs, and create more predictability for small businesses. Creating this initiative is another way that we are working to move Connecticut forward on health care affordability in a way that is realistic, responsible, and focused on the everyday experiences of individuals and families who are trying to get coverage and stay covered.”
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