Insult to Injury: Massive Tax on Spiking Insurance Policy Costs

“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.” (emphasis added)

The Unsung, But Massive Obamacare Sales Tax Increase That Is On the Way
Lindsay Boyd is Communications Director at the Independent Institute in Oakland, CA.

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