According to America’s Health Insurance Plans (AHIP), ObamaCare’s health insurance tax needs to be repealed as soon as possible:
- Starting next year the ACA imposes a new $100 billion tax on health insurance. The tax will start at $8 billion in 2014, increasing to $14.3 billion in 2018, and will continue to increase each year.
- The health insurance tax is larger than the device tax and the prescription drug tax combined.
- The health insurance tax will increase costs for individuals and families purchasing coverage on their own, small businesses, seniors and people with disabilities enrolled in a Medicare Advantage plan, and state Medicaid managed care plans.
- The health insurance tax is far greater than the minimum penalty for those who choose not to buy health insurance – further incentivizing young, healthy people to forgo purchasing insurance until they need medical care.
The health insurance tax is just one of twenty-one new taxes imposed by ObamaCare on the health industry and its consumers. Thankfully, there is already bipartisan legislation filed in the House of Representatives to repeal this monstrosity, but unless there is a major breakthrough to convince liberals how bad ObamaCare will hamper health care, it looks unlikely to become law.