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U.S. Chamber Urges Congress to Address Escalating Health Care Premiums and Market Destabilization
WASHINGTON, D.C. — U.S. Chamber of Commerce Senior Vice President for Labor, Immigration and Employee Benefits Randy Johnson issued the following statement in response to the president’s decision to terminate cost sharing reduction payments:
“The U.S. Chamber calls on Congress to move quickly to protect the American people from health care premium increases and market destabilization by funding the cost-sharing reduction payments terminated by the administration and suspending the health insurance tax scheduled to take effect in January.
“The Health Insurance Tax (HIT) will increase premiums by hundreds of dollars next year for millions of Americans. In addition, the absence of cost-sharing reduction payments could result in a 20 percent hike in premiums.
“In addition Congress should take the opportunity to continue the suspension of the medical device tax and extend the delay of the so-called Cadillac tax.
“Health care costs have gone up enough already. It is up to Congress to act.”