Small Business Healthcare Roundtable with Congressman Charles Boustany
02/15/2013 03:29PM, Published by ALS Editor, Categories: Life+Leisure
Please Join the Greater Iberia Chamber of Commerce for A Small Business Healthcare Roundtable with Congressman Charles Boustany on Wednesday, February 20th at 9 a.m., at the GICC office, 111 W Main St New Iberia, LA 70560
Speakers will be
• Congressman Charles Boustany
• Janet Faulk-Gonzales, Greater Iberia Chamber of Commerce
• Renee Amar, National Federation of Independent Business
To attend, RSVP to Sarah Waters at firstname.lastname@example.org
Why: A call to repeal the Health Insurance Tax (HIT)
Please join us for a Small Business Roundtable discussion with Congressman Charles Boustany to discuss the impact that the Health Insurance Tax (HIT) will have on small businesses in Louisiana. If it is not repealed, it is anticipated this new tax will raise insurance costs for small businesses owners to the tune of $500 per employee. Congressman Boustany has been a champion for small businesses on this issue, authoring legislation to repeal the HIT before it is implemented in 2014. This roundtable is an opportunity to thank Congressman Boustany for his leadership and encourage him to keep up the effort to repeal the HIT in Congress.
The small business community has consistently said that controlling the increasing costs of health insurance premiums is their No.1 concern and should be the focus of health reform legislation, but the new Health Insurance Tax (HIT), included in the Patient Protection and Affordable Care Act (PPACA), will raise the cost of small business health insurance premiums. This tax will exceed $87 billion in assessments between 2014 and 2019 alone and is levied on health insurance companies. This tax will be almost entirely passed on to consumers in the fully insured marketplace, where nearly all small businesses and the self-employed purchase their coverage. This new tax on small business owners will raise insurance costs for already struggling small businesses and is contrary to the goals of health care reform.
According to the National Federation of Independent Business Research Foundation, the HIT will have devastating effects in Louisiana:
~ The HIT will reduce the take-home pay of Louisiana small business employees with a family plan by $500 a year or $5,000 in the first decade, alone.
~ The Health Insurance Tax (HIT) raises a total of $87 billion in the first ten years and $208 billion in the second ten years.
~ The HIT will fall on the shoulders of Louisiana's 350,000 small businesses since it is levied on insurance companies in the fully insured marketplace where the majority of small businesses purchase their insurance.
~ Nationally, the HIT will impact 2 million small businesses, 12 million employees and the self-employed that purchase in the individual market and 26 million employees who are covered by their employer. Increased costs for small businesses, like the HIT, translate to restrictions on their ability to grow, create jobs and lower the 7 percent unemployment rate in Louisiana.
About the Stop the HIT Coalition:
The Stop The HIT Coalition represents the nation's small business owners, their employees and the self-employed who are actively working to repeal the Health Insurance Tax (HIT) provision in the Patient Protection and Affordable Care Act (PAPCA). This costly, unfair and hidden tax will increase the cost of health insurance in the small business market and would needlessly stifle economic growth. The Stop The HIT Coalition is engaging members of the small business community, policymakers and other key stakeholders in a grassroots campaign to highlight the significant harm caused by this tax, all the while promoting repeal measures that will Stop The HIT before it takes effect in 2014. Learn more about the groups supporting the repeal of the HIT at www.stopthehit.com/coalition and the status of legislation at www.stopthehit.com/resources.
Greater Iberia Chamber of Commerce
111 West Main Street
New Iberia, Louisiana 70560