Thursday, June 23, 2011

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Farm Bureau Urges Repeal of Health Insurance Provider Fee

Washington--Farm Bureau is urging members of the House to support, introduced by Reps. Charles Boustany (R-La.) and Dan Boren (D-Okla.). The bill would repeal the annual fee on health insurance providers enacted as part of the Patient Protection and Affordable Care Act.

The bill addresses a major concern that farmers and ranchers have about health insurance—the cost. The new tax will increase health insurance costs for farmers, ranchers and other small businesses by imposing a levy on the net premiums of health insurance companies. This additional cost will be passed on to those who obtain their health insurance through the fully insured market.

A recent Congressional Budget Office report confirms that the health insurance tax “would be largely passed through to consumers in the form of higher premiums for private coverage.” Health insurance costs for small businesses are already rapidly trending higher, increasing 103 percent since 2000. This new tax will raise insurance costs even more, making it harder for farmers and ranchers to purchase coverage for themselves, their families and their employees.

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