Impact of COVID-19 on Agriculture

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

 

AFBF’s Promotion & Education Committee recently announced the opening of registration for the 2020 Farm Bureau Virtual Target: Trust Engagement Training.

Full Article
 

American Farm Bureau Federation President Zippy Duvall will be among several leaders from the food and agriculture industry discussing ways to safeguard global food security, improve consumer health and conserve resources during Reuters Events’ Food Chain Connect 2020, Nov. 5-6.

Full Article