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N.D. (NewsDakota.com) – The Jamestown Area Chamber of Commerce is urging congress to prevent the Health Insurance Tax from going into effect in 2018.
According to America’s Health Insurance Plans (AHIP), the health insurance tax (HIT) “is a $100 billion+ sales tax on health insurance that affects nearly everyone, increasing the cost of health coverage for individuals, small businesses, seniors, states, and taxpayers.”
“The Jamestown Area Chamber of Commerce prides itself on our support for the local Jamestown community, including the numerous small business that reside in the area,” states Becky Thatcher-Keller, Jamestown Chamber Executive Director. “When they thrive, we thrive. That’s why the Health Insurance Tax on small businesses healthcare needs to be immediately prevented from taking effect in 2018.”
This federal tax is a component of the Affordable Care Act, a burdensome component that will hurt many small businesses and their employers. Employers who purchase certain health care plans for their employees will be affected, as will those who are self-employed and the employees who are receiving health coverage as part of their benefit. There will be an average hike of $500 in premiums during 2018 if the tax goes into effect.
“Many of our members are small businesses who offer health care plans as one of their many benefits. This tax will hurt them when it comes to their annual budget, forcing them to use funds reserved for other capital improvements to paying this tax,” said Becky Thatcher-Keller, Executive Director of the Jamestown Area Chamber of Commerce. “We just cannot afford such a tax hike, especially before the holiday season when so many small business owners are planning out their budgets for next year, and working to grow their businesses.”
The Chamber is urging Senator John Hoeven and Congressman Kevin Cramer to join Senator Heidi Heitkamp in passing a piece of legislation calling for a 2-year delay of the Health Insurance Tax.