A recently introduced Senate bill to delay the Affordable Care Act’s health insurance tax will help lower insurance costs for farmers, ranchers and other small business owners, according to AFBF. The Small Business and Family Health Tax Relief Act of 2017 (S. 1978) would provide an additional two years of relief from the HIT, which is on hold only through the end of this year.
A report released in August estimates the HIT will force families purchasing coverage in the small group market to pay an additional $500 on average in premium costs next year.
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