TALLAHASSEE – In a recent report, the National Federation of Independent Business Research Foundation says Florida may lose more than 10,000 jobs by 2022 as a result of a provision in Obamacare that taxes insurance providers.
The NFIB estimates that the tax, known as the Health Insurance Tax, will cause a reduction in Florida’s employment of between 5,600 and 10,155 jobs by 2022. The report also estimates the tax will cause a reduction in sales among small businesses of least $2.3 billion a year.
The Health Insurance Tax is a provision included in Obamacare to raise revenue. It is an annual fee on U.S. health insurance providers beginning in 2014 that seeks to collect about $90 billion in revenue through 2020. However, in its report, NFIB says this tax will ultimately be passed on to consumers, many of whom are small businesses.