New Health Reform Fees Impact Client Premiums
New Fees will apply to fund several of the changes mandated by the Affordable Care Act (ACA).
New Taxes & Fees
The fees include the health insurer fee, the Transitional Reinsurance Program, the Patient-Centered Outcomes Research Institute (PCOR) Fee, the premium tax, the exchange user fee and the high-value plan or “Cadillac” tax.
Research conducted by the National Federation of Independent Businesses (NFIB) in November 2011 suggests that insured premiums will increase by at least 2-3 percent as a result of the Health Insurer Fee alone.
There is also a new annual tax imposed by ACA on pharmaceutical companies with more than $5 million in sales.
Beginning in 2013, ACA also has imposed an excise tax of 2.3 percent on the sales of any taxable medical device.
For more detailed information on the new taxes, please contact our office to discuss what impact these fees will have on your business.