This tax, also known as the health insurance tax, charges health insurance companies based on the types of plans they sell in the fully insured market.
As the biggest segment the fully insured market, small business owners have objected to the tax; they suspect that cost will show up in their premiums. Larger companies often have the option to insure their own employees, which means that they likely won’t feel the health insurance tax’s possible impact.
Support for repealing the tax comes mostly from Republicans, but several Democratic senators have signed on to the cause after hearing testimonials from small business owners, according to an article from the Washington Post.
The tax was designed to create revenue to fund Obamacare, and the repeal up for discussion does not propose an alternative source of revenue, which the Congressional Budget Office projected to be $101 billion over 10 years.
More Articles on News and Analysis:
Minidoka Memorial Hospital Completes $6.5M Expansion
Johns Hopkins Breaks Ground on New Sibley Memorial Hospital
Billings Clinic, Craneware Tout Reforms in Pharmacy Revenue Cycle
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.