Health Care Reform Q&A / DOLLARS AND SENSE
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2014. Although we expect these taxes to ultimately affect the cost to the consumer, they are written as taxes on insurance companies. Because of the way these taxes are written, they are hard to find in the mainstream discussion. They break down as follows: 1. The “favorable” outcomes research: A dollar for each insured member will be paid to the government this year and $2 next year. This money will be used for a research project. The nature of the project is to deter- mine how better outcomes can be achieved when Americans get sick.
2. Premium tax: The insurance industry is being asked to help fund the creation and ongoing operation of the public “exchange” system. Therefore, a tax of between 2% to 3.5% of premium will be paid by all fully insured plans.
3. Reinsurance fund: Due to the move to community rating and the elimination of medical underwriting, it is possible that an insurance company could find itself in a “bad risk” situation. To help protect the consumer from a failing insurance company, approximately $65 for each insured member will be collected to create a fund that protects us all.
The impact of these taxes on the con-
sumer could be an increase in cost as much as 5% to 6% for these provisions alone. Already, we are seeing a much higher average annual cost increase for small business health insurance plans. n
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contract.indd 2 2/11/2013 11:48:26 AM
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