Are you familiar with the health insurance tax created by the Patient Protection and Affordable Care Act?
Beginning in 2014, the health insurance tax (HIT) created by the Patient Protection and Affordable Care Act will be levied on premiums paid to health insurance companies operating in the group and individual insurance markets based on the companies' market shares. Health insurance companies ill not pay the tax, it will be passed on to the customers of health insurance companiessmall businesses and self-employed individuals who purchase fully insured health care plans. The tax isn't scheduled to take effect until 2014, but legislation to repeal the tax has been introduced in the House (H.R. 1370) and Senate (S. 1049) and already has obtained some bipartisan support.
For more information about the HIT, read Professional Roofing's November Capitol Hill column, "Stop the HIT."
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