WASHINGTON, D.C. (July 2, 2013) – On Tuesday the National Grange announced their support for the small business owners and the self-employed against the impending health insurance tax (HIT) included in President Barack Obama’s health care provisions.
The Grange signed onto the Stop the HIT Coalition. This coalition consists of more than 30 groups, including independent advocacy groups and trade associations working to repeal the provisions, set to take effect in 2014, which will tax health insurance companies $87 billion in assessments between 2014 and 2019.
The tax will cause health insurance companies to raise their premiums, affecting around 88% of small businesses and their employees according to the coalition.
“Supporting the Stop the HIT Coalition means protecting small businesses, their employees and consumers against increasing health care costs,” Legislative Director Grace Boatright said. “Small business owners will disproportionately feel the increased costs of health insurance.”
A recent study by former CBO Director Doug Holtz-Eakin suggested that the HIT will cost the average family about $5,000 in higher premiums over a decade.
“Added expenses don’t help families, especially those in the rural communities hardest hit in the recession and still struggling to recover,” Boatright said. “This issue is too important to ignore. The HIT is just one more burden families shouldn’t have to face. The Grange’s 160,000 members stand behind the job creators that are small businessmen and women.”