Syverson: New Obamacare Taxes to Start January 1
Wednesday, September 25, 2013
ROCKFORD– “A number of new fees and taxes are scheduled to go into effect as part of implementing the Obamacare Health Plan,” said Senator Dave Syverson (R-Rockford.) Syverson stated that one particular tax that begins January 1, 2014, the Transitional Reassurance Assessment Fee (Tax), will be felt more directly and broadly by taxpayers.
This new Transitional Reassurance Assessment will place a tax of $5.25 per month on every covered person in a group health plan. For example, if a single person has coverage under their employer’s health plan, that single employee would be taxed $5.25 a month, or $63 annually. For a family of four, the tax would be $21 per month, or $252 annually. The Insurance Carrier is required to collect the tax from the employer and remit the receipts to the Federal Government. Each employer will have to decide if and how to collect the tax from their employees.