FOR IMMEDIATE RELEASE
Contact: Kelly Klass, (609) 713-4243, kelly.klass@nfib.org
December 18, 2015
WASHINGTON, D.C. – The Stop The HIT Coalition today commended the U.S. House of Representatives for passage of a 1-year suspension of the Health Insurance Tax (HIT) in the omnibus spending bill. The measure, which now heads to the U.S. Senate, stands to benefit millions of small businesses that have been saddled with higher healthcare costs as a result of the tax.
“A suspension of the HIT is a step in the right direction for small businesses and employees who bear the brunt of paying this tax on their healthcare benefits,” said Amanda Austin, Vice President of Public Policy at the National Federation of Independent Business (NFIB). “Putting a hold on this tax is the right thing to do and gives lawmakers an opportunity to reevaluate the impact of this burdensome tax. We hope the Senate will follow suit.”
The HIT, which was imposed as part of the Patient Protection and Affordable Care Act (PPACA), drives up the costs of health care plans purchased in the fully-insured marketplace by as much as $500 per family annually. The tax creates a substantial burden for the nearly 9 in 10 small businesses that buy those policies. A 1-year suspension of the HIT would provide temporary relief for up to 12 months to small businesses and their employees.
More than 275 Members of Congress, including Republicans and Democrats, have already joined as cosponsors of legislation introduced earlier this year that would permanently repeal the HIT. The Stop the HIT Coalition, which includes more than 35 national organizations representing millions of small business owners across the country, supports that legislation. For more information, please visit http://www.StopTheHIT.com/.
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