The Health Insurance Tax, also commonly referred to as the HIT Tax, will take effect next year with the implementation of the Affordable Care Act. The Health Insurance Tax targets health insurance company premiums on the fully insured market.
A recent Congressional Budget Office report confirms the Health Insurance Tax “would be largely passed through to consumers in the form of higher premiums for private coverage.” Those consumers are this country’s family farms and millions of other small businesses who will face increased costs and tough decisions. The result will also likely mean more costly and reduced coverage for their hard working employees.
Norton will discuss how this will greatly impact his family’s dairy farm in Elba, NY and other farms across the state. His testimony will be available following the event by http://smallbusiness.house.gov/calendar/eventsingle.aspx?EventID=326579 going to this link.