For Immediate Release
New Oliver Wyman Study Outlines Critical Need for Congress to
Provide Extension of HIT Relief Beyond 2017
Washington, DC – Absent immediate Congressional action to repeal or delay the Health Insurance Tax (HIT), small businesses and their employees, seniors and young workers will face a major tax hike — $14.3 billion — when the HIT returns in 2018.
With 2018 insurance premiums being finalized in just a few weeks, a new report from Oliver Wyman points to immediate cost-savings for small businesses and their employees with repeal of the HIT.
By providing relief from the HIT, small business employees and their families could see lower premiums and cost savings of $500 on average in 2018. Millions of hard-working Americans who need relief from exorbitant health care costs are urging Congress to take immediate and urgent action to repeal this harmful tax once and for all.
Annual Premium Savings Per Enrollee for 2018-2027
In 2015, nearly 400 Republicans and Democrats passed bipartisan legislation to suspend the HIT for one year, providing cost-savings and relief to consumers and small business employees across the country. The Stop The HIT Coalition urges Congressional members to prioritize HIT relief before premiums are finalized for 2018.
For more information on the impact of the health insurance tax, click here.
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About Stop The HIT: The Stop The HIT Coalition represents the nation’s small business owners, their employees and the self-employed who are actively working to repeal the Health Insurance Tax. Since the Coalition’s formation in 2011, it has grown to include more than 35 national organizations, representing millions of small business owners across the country.
Additional information may be found at www.stopthehit.com | Twitter: @StopTheHIT | YouTube: https://www.youtube.com/user/StopTheHIT | Blog: http://www.stopthehit.com/blog | Facebook: https://www.facebook.com/StopTheHIT