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Ask any employer how health care reform affects them and you'll most likely hear items such as play-or-pay or automatic enrollment, and you may even hear comparative effectiveness research fee. I bet you will not hear: health insurance provider premium tax. Makes sense, though. Providers will be responsible for paying this tax. So, why should you care about it (especially if you offer fully insured medical plans)? Here’s why:
Beginning in 2014, Section 9010 of the Patient Protection and Affordable Care Act will impose a new tax on health insurance providers. The tax is $8 billion in 2014, $11.3 billion in 2015 and 2016, $13.9 billion in 2017 and $14.3 billion in 2018. The tax will continue beyond 2018 but future amounts have not been provided yet. Many providers will be affected and each provider’s tax will depend on their net premiums written during the calendar year.
To read the entire article by Ed Bray, J.D. click here
Friday, August 31, 2012
Wednesday, August 29, 2012
GOP Platform "Committed" to Repeal of PPACA
If Mitt Romney is elected president and Republicans win control of the Senate and retain their majority in the House of Representatives, that will “guarantee” that the 2010 health care reform law is never fully implemented, according to the party platform adopted Tuesday by delegates at the GOP convention in Tampa.
“Congressional Republicans are committed to its repeal; and a Republican president on the first day in office will use his legitimate waiver authority under that law to halt its progress and then will sign its repeal,” the platform says.The platform describes the Patient Protection and Affordable Care Act as the “high-water mark of an outdated liberalism, the latest attempt to impose upon Americans a euro-style bureaucracy to manage all aspects of our lives.”The health care reform law, the platform says, “is falling by the weight of its own confusing, unworkable, budget-busting and conflicting provisions.”The platform also says Republicans will push to “empower” individuals and small business to form health care purchasing pools as well as to eliminate any federal subsidies on health care plans that provide coverage for abortion. Under current law, a self-funded employer, for example, can take a tax deduction for abortion-related expenses its health care plan covers.
To view the full article click here
“Congressional Republicans are committed to its repeal; and a Republican president on the first day in office will use his legitimate waiver authority under that law to halt its progress and then will sign its repeal,” the platform says.The platform describes the Patient Protection and Affordable Care Act as the “high-water mark of an outdated liberalism, the latest attempt to impose upon Americans a euro-style bureaucracy to manage all aspects of our lives.”The health care reform law, the platform says, “is falling by the weight of its own confusing, unworkable, budget-busting and conflicting provisions.”The platform also says Republicans will push to “empower” individuals and small business to form health care purchasing pools as well as to eliminate any federal subsidies on health care plans that provide coverage for abortion. Under current law, a self-funded employer, for example, can take a tax deduction for abortion-related expenses its health care plan covers.
To view the full article click here
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