On October 11, 2017, the U.S. Chamber of Commerce sent this letter to Senator Cory Gardner supporting the introduction of S. 1859, the "Healthcare Tax Relief Act."
October 11, 2017The Honorable Cory GardnerUnited States SenateWashington, D.C. 20510Dear Senator Gardner:The U.S. Chamber of Commerce applauds your introduction of S. 1859, the “HealthcareTax Relief Act,” which would extend the moratorium on the annual fee on health insuranceproviders.S. 1859 would provide critical and timely relief from the Affordable Care Act’s perverseand harmful tax on health insurance premiums, which would further increase already escalatingpremiums for tens of millions of Americans. If the health insurance tax (HIT) comes into effectin 2018, it will harm Americans purchasing many different types of insurance includingindividuals, families, small businesses, larger companies, and seniors covered with MedicareAdvantage as well as Medicare Part D prescription drug coverage.In 2018 alone, the HIT will increase premiums for families purchasing coverage in thelarge group market by more than $500 according to actuarial analysis performed by experts atOliver Wyman.Further, because of the regulations implementing the tax, the amount collected in 2018through higher premiums is even more than the $14.3 billion attributable to the statutory fees. Asa result, the total premium impact of the HIT in 2018 on hard-working Americans and retireeswill be as much as $22.0 billion.Repealing the HIT is a vital and necessary step to make health insurance more affordablefor small businesses and individuals.
