Trump Hits Insurance Companies With 5 Percent Tax Hike
President Donald Trump is on the verge of passing middle-class tax cuts through the Senate.
How is he paying for massive Obamacare fees, courtesy of the Barack Obama administration? By taxing the insurance companies who got a massive cut of the profits.
Emily Jahsinsky of the Washington Examiner has an important story:
Unless Congress takes action, one previously-delayed provision of the Affordable Care Act will take effect on Jan. 1, 2018, potentially raising premiums for consumers.
Obamacare’s health insurance tax, which has been delayed in the past, hits insurance companies with a 4-6 percent tax on every plan sold. As the Washington Post reported in August, “UnitedHealth Group and a coalition of other groups against the tax have been circulating research from Oliver Wyman estimating that premiums will rise 2.6 percent next year if the tax is allowed to go into effect.”
A survey released exclusively to the Washington Examiner by the Winston Group, which conducted the research among 1,000 registered voters over the phone from Nov. 14-15, found 58 percent of respondents favored suspending the tax for 2018. Twenty-one percent opposed it and 20 percent replied, “Don’t know,” though most (61 percent) also said they had not “seen, read, or heard, anything” about it…