In 2014, tens of millions of Americans saw an increase in their health insurance premiums as a result of the HIT tax being included in the Patient Protection and Affordable Care Act. The HIT takes aim at Main Street America, hitting the pocketbooks of working families, stifling small business job creation and impacting our most vulnerable citizens: the poor and seniors.
Congress must act to fully repeal this harmful and poorly constructed tax.
At the end of 2015, over 100 Democrats joined with nearly 300 Republicans to suspend the impact of the HIT for one year. While this is a welcome and critical first step, Americans need the certainty and relief of full repeal.
Repealing the HIT is common sense, bipartisan reform. If we do not take action, the HIT will undoubtedly have a devastating effect on the national economy, including:
- Costing families an additional $5,000 in higher premiums over the next decade.
- Stifling job creation to the tune of hundreds of thousands of jobs lost.
- Busting state budgets by increasing the cost of providing Medicaid health plans by $1,530 per enrollee over the next decade
- Making it more difficult for states to provide safety-net coverage to Medicaid and Medicare beneficiaries.
- Lowering real GDP by between $20 billion and $33 billion by 2023.
Since the cost of the HIT increases year-over-year, Americans will see temporary relief in 2017 only to face an even higher HIT impact on premiums in 2018. Providing relief from the HIT is a welcome and critical first step, but Americans need the certainty of full repeal.
Take action now: tell Congress to repeal the HIT!