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Lowering Premiums And Costs For Tens Of Millions Of Americans By Suspending The Health Insurance Tax

posted by Cathryn Donaldson

on January 17, 2019

WASHINGTON, D.C. –  America’s Health Insurance Plans (AHIP) issued the following statement on the introduction of S.172, a bipartisan bill that would suspend the Health Insurance Tax (HIT) for 2020 and 2021. The bill was introduced by Sen. Cory Gardner (R-Colo.), Sen. Jeanne Shaheen (D-NH), Sen. John Barrasso III (R-Wyo.), Sen. Doug Jones (D-Ala.), Sen. Tim Scott (R-SC), and Sen. Kyrsten Sinema (D-Ariz.).

 “Americans deserve coverage and care that is affordable and improves their health and financial security. Suspending the Health Insurance Tax (HIT) will help drive down premiums and costs for tens of millions of Americans who get coverage through their jobs, buy their own coverage, or are covered through Medicare Advantage plans or Medicaid managed care.

In fact, bipartisan lawmakers’ suspension of the HIT for 2019 effectively reduced premiums for millions of Medicare Advantage beneficiaries by 56 percent, according to a new Oliver Wyman report.

“We thank Senators Gardner, Shaheen, Barrasso, Jones, Scott, and Sinema for their continued leadership in promoting affordability and availability of health coverage and care. This important tax delay will lower premiums and costs for millions of hardworking American families, state budgets, and taxpayers