You may have heard this ad on your local radio station:
What the ad is telling you is correct. If Congress does not change the part of Obamacare that taxes health insurance premiums, the Health Insurance Tax will cause the cost of those premiums to go up $944 million in Wisconsin in 2018.
Wisconsin companies will see health insurance premiums increase by $552 for family coverage. Seniors in the Medicare Advantage program could see their premiums go up $474 per couple. Individual consumers could see their premiums jump $182.
The tax increase will hit the state’s BadgerCare Plus program, too, for $34 million.
Obviously, nobody wants this to occur. But if Congress does nothing, then Wisconsin and the rest of the country will see even higher health insurance costs and state budgets will take a hit, too, from increased Medicaid costs. Repealing and replacing Obamacare may be stalled, but Congress can still act to repeal this tax – and they should.