The tax will be passed on to consumers in the form of higher premiums, Rep. Bera said in a news release. The bill would give health insurance markets time to stabilize before the tax took effect, according to the release.
The tax or fee applies to entities with aggregate net premiums of more than $25 million, according to the Internal Revenue Service. America’s Health Insurance Plans CEO Karen Ignagni recently advocated for a two-year delay, saying the tax is “one of the largest and more important barriers” to healthcare affordability.
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