Letter to Senator Cory Gardner Supporting H.R. 1859, the "Healthcare Tax Relief Act" | U.S. Chamber of Commerce

Letter to Senator Cory Gardner Supporting H.R. 1859, the "Healthcare Tax Relief Act"

Wednesday, October 11, 2017 - 12:00pm

On October 11, 2017, the U.S. Chamber of Commerce sent this letter to Senator Cory Gardner supporting the introduction of H.R. 1859, the "Healthcare Tax Relief Act."

 

October 11, 2017
 
The Honorable Cory Gardner
United States Senate
Washington, D.C. 20510
 
 
Dear Senator Gardner:
 
     The U.S. Chamber of Commerce applauds your introduction of S. 1859, the “Healthcare
Tax Relief Act,” which would extend the moratorium on the annual fee on health insurance
providers.
 
     S. 1859 would provide critical and timely relief from the Affordable Care Act’s perverse
and harmful tax on health insurance premiums, which would further increase already escalating
premiums for tens of millions of Americans. If the health insurance tax (HIT) comes into effect
in 2018, it will harm Americans purchasing many different types of insurance including
individuals, families, small businesses, larger companies, and seniors covered with Medicare
Advantage as well as Medicare Part D prescription drug coverage.
 
     In 2018 alone, the HIT will increase premiums for families purchasing coverage in the
large group market by more than $500 according to actuarial analysis performed by experts at
Oliver Wyman.
 
     Further, because of the regulations implementing the tax, the amount collected in 2018
through higher premiums is even more than the $14.3 billion attributable to the statutory fees. As
a result, the total premium impact of the HIT in 2018 on hard-working Americans and retirees
will be as much as $22.0 billion.
 
     Repealing the HIT is a vital and necessary step to make health insurance more affordable
for small businesses and individuals.