How can Congress contain health insurance costs? They can (and must!) start by voting yet this year to delay or repeal the federal Health Insurance Tax (HIT Tax).
In an opinion piece to The Detroit News, Chamber lobbyist Wendy Block argued that Congress must act before the end of 2018 to delay or repeal this sales tax on health insurance coverage. Without action, the HIT tax will hit employers and consumers with over $568 million in higher premiums, including:
- For fully insured large employers and their employees, premium increases of $424 for family coverage;
- For fully insured small employers and their employees, premium increase of $400 for family coverage;
- For consumers in the individual market, premium increases of $157 per policy; and
- For seniors and disabled individuals in Medicare Advantage plans, premium increases of $452 per couple.
The Michigan Chamber is advocating for the repeal or delay of the HIT Tax because it will increase the cost of health insurance, putting it out of reach for more businesses and individuals.
Please contact Wendy Block at 517.371.2100 or email@example.com with any questions.