ABC has also always been opposed to tax increases, especially at a time when the unemployment rate in the construction industry exceeds 16 percent. The new health care law includes an $87 billion health insurance premium (HIT) tax that will fall hard on small businesses. The HIT, which is levied on health insurance companies, will almost entirely pass onto the consumers in the fully-insured marketplace, where nearly all small businesses and the self-employed purchase their coverage. This new tax on small businesses will raise insurance costs for already struggling smalls businesses and is contrary to the goals of health care reform. ABC supports Rep. Boustany’s (R-LA) bill “To Repeal the Annual Fee on Health Insurance Providers Enacted by the Patient Protection and Affordable Care Act,” H.R. 1370.
For more information on the HIT visit Stop the Hit Coalition