WASHINGTON—The Automotive Aftermarket Industry Association and the Specialty Equipment Market Association are among a coalition of more than 30 business associations devoted to the repeal of the health insurance tax provisions of the Patient Protection and Affordable Care Act.
The Stop the HIT Coalition sent a letter March 28 to Sens. John Barrasso, R-Wyo., and Orrin Hatch, R-Utah, thanking them for sponsoring a bill to repeal the HIT. Sen. Barrasso is vice chairman of the Senate Republican Conference, Sen. Hatch the ranking Republican on the Senate Finance Committee.
The HIT becomes effective in January 2014, affecting the insurance companies that provide health insurance to more than 2 million small businesses, according to the coalition.
This tax will amount to $87 billion between 2014 and 2019, the coalition said on its website, and the insurers will have no choice but to pass the costs along to those who buy their health insurance in fully-funded markets—small businesses and the self-employed.
Besides AAIA and SEMA, members of the Stop the HIT Coalition include the National Association of Manufacturers, the Automotive Recyclers Coalition and the U.S. Chamber of Commerce.