October 28, 2016

 

 

 

 

 

In This Issue
Listen to Our Podcast Discussion with NAHU’s Federal Lobbyists on the Upcoming Lame Duck Session
NAHU Urges Congress to “Stop the HIT”
Window Shopping Begins Ahead of ACA’s Fourth Open Enrollment
Capitol Conference Registration is Now Open!
Compliance Cornered: Medicare Enrollment and “Seamless Conversion”
Register Now for November’s Compliance Corner Webinar on Employer Reporting
Time is Running Out to Help Marketplace Consumers on Day One
The ShiftShapers Podcast with David Saltzman
HUPAC Roundup
What We’re Reading
Tools
E-mail the Editor
Visit the NAHU Website
Printer Friendly Version
spacer
NAHU Urges Congress to “Stop the HIT”

This week, NAHU signed onto a letter by the Stop the HIT coalition, of which NAHU is a member, urging Congress to once again delay the Health Insurance Tax, or “HIT,” in any end-of-year legislative deal. The HIT assesses a tax on all health insurance companies of insured plans both inside and outside the exchange based on their “net premiums” written, with tax revenue set to reach $14.3 billion by 2018. In reality, this tax is passed on from insurers to consumers and particularly harms small businesses and self-employed persons purchasing coverage in the individual market. Over a 10-year period, this tax is projected to increase premiums for single coverage by an average of $2,150 and for family coverage by an average of $5,080. The tax is a significant revenue off-set to pay for the costs of the ACA.

The letter, sent to Senate Majority Leader Mitch McConnell (R-KY), Senate Minority Leader Harry Reid (D-NV), House Speaker Paul Ryan (R-WI), and House Minority Leader Nancy Pelosi (D-CA), specifically asks that any year-end package include language that would extend the current one-year moratorium of the HIT. The HIT had previously been suspended through last year’s $1.8 trillion end-of-year package, along with a two-year delay of the Cadillac/excise tax and a one-year moratorium of the medical device tax. The one-year moratorium of the HIT is effective for 2017. Together, these amounted to a loss of $35 billion in revenue to the federal government. Based on estimates made by the Congressional Budget Office (the methodology of which NAHU disputes), permanent repeal of all three of these taxes would amount to $250 billion over a 10-year span.

NAHU strongly supports legislation that would permanently repeal of the HIT: S. 183 sponsored by Senator John Barrasso (R-WY) and H.R. 928 sponsored by Representative Charles Boustany (R-LA). The Senate bill has the support of 40 members of the chamber while the House bill has the support of 236 members, which is more than half the chamber.

< Previous Article | Next Article >
NAHU
NAHU on Twitter NAHU on Facebook NAHU on LinkedIn