Sen. Johnny Isakson: Co-sponsors Bill to Repeal Health Insurance Tax

Your Washington Desk

Isakson Co-sponsors Bill to Repeal Health Insurance Tax

U.S. Senator Johnny Isakson, R-Ga., co-sponsored legislation that would eliminate the hidden, unfair and punitive tax within the Obamacare law that is placed on every individual, family and small business purchasing health insurance.

The Jobs and Premium Protection Act amends the Patient Protection and Affordable Care Act by eliminating the health insurance tax, an annual fee on health insurance plans enacted by the health care law. The National Federation of Independent Business estimates that repealing this tax will help save an estimated 152,000 to 286,000 private sector jobs that will be eliminated if this tax remains in place. In addition to its impact on job creators and private health insurance, the Obamacare health insurance tax is also resulting in higher costs and reduced benefits for seniors enrolled in Medicare Advantage, and it is projected to cost the state of Georgia hundreds of millions of dollars in levies on Medicaid plan administrators, according to Medicaid Health Plans of America.

“The negative effects of Obamacare are wide-ranging and the costs far outweigh the benefits of this terrible law,” said Isakson. “With the Jobs and Premium Protection Act, we are seeking to eliminate another burdensome tax on American small businesses, families and seniors that is raising costs for every American with health insurance. Under Obamacare, you’re taxed if you don’t have health insurance and you’re also taxed if you do have health insurance. As we work toward the goal of repealing and replacing this entire law, we must immediately address the damage that individual provisions such as the health insurance tax are already inflicting on our economy.”

In 2015, the price tag on the health insurance tax is $11.3 billion and by 2018 jumps to an estimated $14.3 billion. The non-partisan Joint Committee on Taxation estimated that between 2013 and 2022, the tax will total over $100 billion.

The Jobs and Premium Protection Act was introduced by Senators John Barrasso, R-Wyo., and Orrin Hatch, R-Utah, and is co-sponsored by 18 additional Republican senators.