Farm Bureau Backs Bill to Delay the HIT

News / FBNews November 1, 2017

A recently introduced Senate bill to delay the Affordable Care Act’s health insurance tax will help lower insurance costs for farmers, ranchers and other small business owners, according to the American Farm Bureau Federation. The Small Business and Family Health Tax Relief Act of 2017 (S. 1978) would provide an additional two years of relief from the HIT, which is on hold only through the end of this year.

A report released in August estimates the HIT will force families purchasing coverage in the small group market to pay an additional $500 on average in premium costs next year.

“The bill addresses one of the major concerns that farmers and ranchers have related to health insurance – cost. The health insurance tax has increased health insurance costs for farmers, ranchers and other small businesses by imposing a levy on the net premiums of health insurance companies, which is passed on to consumers,” AFBF President Zippy Duvall wrote in a letter to the bill’s original sponsors, Sens. Heidi Heitkamp (D-N.D.), Jeanne Shaheen (D-N.H.) and Joe Donnelly (D-Ind.).

Another Farm Bureau-supported Senate bill, the Healthcare Tax Relief Act (S. 1859), would delay the HIT for one year.

Share This Article

 

The American Farm Bureau Foundation for Agriculture will announce its 12th Book of the Year on Sunday, Jan. 13, at the AFBF Annual Convention & IDEAg Trade Show in New Orleans, Louisiana.

Full Article
 

State Farm Bureau presidents from across the nation attended an event today at the Environmental Protection Agency headquarters in Washington to witness the signing of the proposed Clean Water Rule.

Full Article