Bill > HB1473

This bill introduces the Health Care Sharing Ministry (HCSM) Tax Parity Act, which aims to provide tax benefits to members of health care sharing ministries in Oklahoma. The legislation defines HCSMs as non-profit, tax-exempt organizations that facilitate voluntary sharing of medical expenses among members with common ethical or religious beliefs, and establishes a tax deduction for qualified individuals. Starting January 1, 2026, Oklahoma residents who are active HCSM members can deduct their health care sharing expenses from their adjusted gross income on state tax returns, similar to how health insurance premiums are treated. The bill covers deductions for self-employed individuals, employer contributions, and individual memberships. To claim the deduction, members must submit documentation to the Oklahoma Tax Commission, which will develop specific guidelines and procedures. The act provides additional protections, such as ensuring that funds received through HCSMs are not considered taxable income and establishing penalties for fraudulent claims, including potential fines and temporary ineligibility for future deductions. The bill's underlying purpose is to recognize HCSMs as a legitimate alternative to traditional health insurance and provide financial equity for their members by allowing comparable tax treatment.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1473&Session=2600