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by David Sparks Ph.d, click here for bio
Program: Line on Agriculture
Date: February 13, 2017
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Download Report: Health_Insurance.mp3
“The bill addresses one of the major concerns that farmers and ranchers have related to health insurance – cost. The health insurance tax (HIT) has increased health insurance costs for farmers, ranchers and other small businesses by imposing a levy on the net premiums of health insurance companies, which is passed on to consumers. During 2014, $8 billion of excise taxes were levied, and $11 billion were collected in 2015 and 2016 each,” American Farm Bureau Federation President Zippy Duvall said in a letter to House members urging them to support the bill.
While a one-year moratorium on the tax is in effect for 2017, the HIT, which increases year-over-year, will be back in 2018. “Providing one year of relief from the HIT was a welcome and critical first step, but Americans need the certainty of a full repeal,” Duvall said.
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