posted by Jamie Carracher
on August 14, 2017
Consumers, seniors, and small business employees are facing a massive tax hike in 2018 when the ACA’s Health Insurance Tax (HIT) comes back. When we should be looking for ways to lower health care costs, the HIT is a $100 billion+ tax on health coverage – and its impact is being felt by Americans all over the country.
A new report shows the consequences this tax will have on hard-working consumers: $245 more for seniors who have Medicare Advantage plans – and $181 more for people with low-incomes or disabilities who have Medicaid Manage Care plans.
If this tax is not stopped, the HIT will hit consumers even more in the long run – for families in the small-employer market, for example, premiums will go up an additional $7,000 over the next 10 years.
It’s not too late to act. As Marilyn Tavenner, AHIP president and CEO, wrote earlier this year:
By addressing the HIT now, Congress and the new administration can immediately make health care more affordable for seniors and families.
Stopping the HIT in 2018 is a powerful way to improve the affordability of health insurance coverage for millions of consumers. Let’s work together to lower costs.