Fee at Last
They call it a fee, but it’s really a tax. The next tax hike of ObamaCare hit on Jan. 1. It’s a tax on medical devices and prescription drugs which is imposed through health insurance companies, because, you know, they will have their magic money pixies pay the taxes and not pass the fees on through higher premiums.
“ObamaCare includes so many taxes that it’s hard to keep track, but one of the worst [took] effect on Jan. 1. This beaut is a levy on health insurance premiums that targets the small business and individual markets.
At $8 billion in 2014 and $101 billion over the next decade, the insurance tax is larger than ObamaCare’s taxes on medical devices and prescription drugs combined. The Internal Revenue Service classifies the tax as a “fee” but it functions like an excise tax on premiums. The IRS collects an annual flat amount specified by the Affordable Care Act to be allocated among the insurers according to market share.”