What is the Health Insurance Tax?
The health care reform law imposes a massive new sales tax on health insurance which will increase the cost of coverage for individuals,small businesses, and public program beneficiaries with private insurance. The tax begins at $8 Billion in 2014 and rises to 14.3$ Billion.
In 2018, increasing annually thereafter based on premium growth. The Joint Committee on Taxation projects that between 2013 and 2022 the new tax will total $101.7 billion.
The health care reform law imposes a massive new sales tax on health insurance which will increase the cost of coverage for individuals,small businesses, and public program beneficiaries with private insurance. The tax begins at $8 Billion in 2014 and rises to 14.3$ Billion.
In 2018, increasing annually thereafter based on premium growth. The Joint Committee on Taxation projects that between 2013 and 2022 the new tax will total $101.7 billion.
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