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.