Consumers Expected To Be Slammed by Obamacare Tax on Health Insurance
It's industry-wide, so sure to be passed on to the public
You are going to pay more, much more for healthcare thanks to the new ObamaCare soon to roll out across America.
The Internal Revenue Service (IRS) released its proposal Friday to earn billions of dollars through annual fees on health insurers as part of the Affordable Care Act.
Industry groups are quite upset, arguing that the fees will be passed along to consumers.
America's Health Insurance Plans (AHIP), the leading trade group for the insurance industry, blasted the fees as a tax that would exceed $100 billion in the next decade and hit average families still struggling to rebound from the economic recession. And if the insurers don't pay on time they are going to face penalties of $10,000, plus $1,000 for every day they miss deadline.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?