Bill > S1941

This bill aims to increase health insurance affordability for small businesses in Massachusetts. It proposes several key changes to the existing law: 1. It expands the eligibility for a tax credit for small businesses that provide health insurance coverage to their employees, by increasing the maximum number of employees from 1 to 26. 2. It aligns the eligibility period for the tax credit with periods of high unemployment in the state (5% or above), rather than a fixed 3-year period. 3. It increases the tax credit percentage from 20% to 15% for the first year, and removes the 10% credit for the second year. 4. It adds a new requirement that the average income of full-time equivalent employees must be at or below $57,000 per year, indexed for inflation. 5. It requires the state insurance commissioner to evaluate the effectiveness of purchasing cooperatives in increasing the affordability of health insurance premiums for small businesses, and to report its findings and recommendations biannually.

Budget and Finance

https://malegislature.gov/Bills/192/S1941