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    The document discusses how a health insurance tax would impact individuals and families in Indiana and Michigan who purchase health insurance. It finds that on average, the tax would increase premiums by thousands of dollars over 10 years for those purchasing insurance individually or through small or large employers. The tax would also increase costs for Medicare and Medicaid recipients, potentially reducing their benefits or coverage. On a national level, the tax could reduce future employment and economic activity and sales.

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    A look at how health care costs affect Indiana and Michigan residents

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    The document discusses how a health insurance tax would impact individuals and families in Indiana and Michigan who purchase health insurance. It finds that on average, the tax would increase premiums by thousands of dollars over 10 years for those purchasing insurance individually or through small or large employers. The tax would also increase costs for Medicare and Medicaid recipients, potentially reducing their benefits or coverage. On a national level, the tax could reduce future employment and economic activity and sales.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    Health Care Costs

    Uploaded by

    elkharttruth
    The document discusses how a health insurance tax would impact individuals and families in Indiana and Michigan who purchase health insurance. It finds that on average, the tax would increase premiums by thousands of dollars over 10 years for those purchasing insurance individually or through small or large employers. The tax would also increase costs for Medicare and Medicaid recipients, potentially reducing their benefits or coverage. On a national level, the tax could reduce future employment and economic activity and sales.

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    of 1

    MAKING HEALTHCARE MORE EXPENSIVE

    HEALTH INSURANCE TAX:

    How it impacts Hoosiers


    If you purchase coverage in Indiana: On Your Own Through a Small Employer Average increase in premiums of $2,696 over 10 years. Through a Large Employer Average increase in premiums of $2,673 over 10 years. Average increase in premiums of $7,174 over 10 years.

    Individual

    Average increase in premiums of $1,942 over 10 years.

    Family

    Average increase in Average increase in premiums of $4,662 premiums of $6,656 over 10 years. over 10 years.

    Medicare If you have a Medicare Advantage plan, the tax could cost you on 65+ Years average $3,458 more in higher premiums and reduced benefits over 10 years.

    Medicaid Medicaid health plan costs could increase $1,386 over 10 years, putting pressure on already strained state budgets, which could lead to decreased benefits and potentially create coverage disruption.

    How it impacts Michiganders


    If you purchase coverage in Michigan: On Your Own Through a Small Employer Average increase in premiums of $2,305 over 10 years. Through a Large Employer Average increase in premiums of $2,512 over 10 years. Average increase in premiums of $6,795 over 10 years.

    Individual

    Average increase in premiums of $1,889 over 10 years.

    Family

    Average increase in Average increase in premiums of $4,485 premiums of $5,700 over 10 years. over 10 years.

    Medicare If you have a Medicare Advantage plan, the tax could cost you on 65+ Years average $3,838 more in higher premiums and reduced benefits over 10 years.

    Medicaid Medicaid health plan costs could increase $1,366 over 10 years, putting pressure on already strained state budgets, which could lead to decreased benefits and potentially create coverage disruption.

    How it impacts the national economy


    Reduce future private sector employment by 146,000 to 262,000 by 2022. Reduce potential sales between $19 billion and $35 billion by 2022.

    Source: Americas Health Insurance Plans trade associations Center for Policy and Research.

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