Please disable your Ad Blocker to better interact with this website.

Image Image Image Image Image Image Image Image Image Image

Affluent Christian Investor | June 19, 2019

Scroll to top

Top

No Comments

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.”

Continue reading here…

 

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

The Affluent Mix

Become An Insider!

Sign up for Affluent Investor's free email newsletter and receive a free copy of our report, "How the Trump Impeachment Crusade Costs you Money ."

Send this to a friend