The Health Insurance Tax, or HIT, is a multibillion-dollar tax buried in the Affordable Care Act that is imposed on health insurance premiums, hurting working families, the poor, and both Medicare and Medicaid beneficiaries.
According to former Congressional Budget Office Director Douglas Holtz-Eakin, the HIT could cost Pennsylvania between 2,555 and 4,724 jobs by 2023, and a decline in the state’s gross domestic product by up to $793 million over a decade. Worse, he estimates the HIT will raise a family’s premiums by $500 a year.
Our leaders must realize Pennsylvanians simply cannot afford to pay another $500 a year for health insurance.
Thankfully, legislation has been proposed in the U.S. House (H.R. 928) and Senate (S. 183) to repeal this tax. A majority of Pennsylvania’s representatives have co-sponsored the House bill, but Sen. Bob Casey hasn’t taken action in the Senate to repeal this crushing tax.
I urge Sen. Casey to stand with middle-class, working families and repeal this destructive tax.