November 7, 2017

Dear Friends,

Every now and then, an acronym coined in the halls of Congress actually makes sense. Such is the case with the pending Health Insurance Tax (HIT) that is scheduled to take effect in January, 2018. This tax will indeed be a major hit on the pocketbooks of millions of Americans and the nation’s economy.

The HIT is part of the Affordable Care Act and, while Congress has previously delayed its implementation, it comes back with a vengeance on January 1, 2018 unless Congress acts now. Without congressional action, the effects of this Obamacare tax will be enormous, particularly on seniors enrolled in the Medicare Advantage program.

On a national scale, the HIT will strike a stunning financial blow. According to Florida Chief Financial Officer Jimmy Patronis, “Without immediate Congressional action, the tax will go into effect January 1, 2018, with a $22 billion first-year fiscal impact.”

The effects of the HIT are so bad, there is bi-partisan support to fully repealing this tax. As Rep. Kyrsten Sinema (D-AZ) noted in her announcement to repeal the HIT, “The National Federation of Independent Business Research Foundation found the HIT will cost between 152,000 and 286,000 jobs by 2023.” This is a substantial drain on the overall economy, all while siphoning money from the pocketbooks of millions of Americans.

Seniors especially will feel the sting of this tax. The Obamacare HIT on Medicare Advantage enrollees adds $500 per couple to their health care costs. That’s a significant burden on a lot of families, especially those living on a fixed income. In many cases, it is simply unaffordable. No one should be forced to decide between food or medicine, and paying this onerous tax.

We all have relatives, friends and neighbors who rely on Medicare Advantage to meet their health care needs. It is wrong to force our seniors to pay this new, $500 per couple tax which they cannot afford. That is why Congress must act now to stop this health insurance tax before it’s too late.

Jim Martin
Chairman
60 Plus Association
Kill the Death Tax
Don’t Wound It!
703-807-2070 (O)
571-216-1928 (M)
jmartin@60plus.org

For more information on the Health Insurance Tax

Don’t forget about Obamacare’s health insurance tax
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Gardner Authors Proposal to Delay Costly Health Insurance Tax