New Yorkers will be hit with $1.7 billion in new federal taxes on private health insurance under the Affordable Care Act in 2014, the Conference of Blue Cross and Blue Shields estimates in this new report. The federal taxes will come on top of $4.8 billion in total state taxes on private health insurance, the insurer group says.
The new federal charges will include a health insurance premium tax and an excise tax on “Cadillac” plans, plus a Transitional Reinsurance Program Fee and a Comparative Effectiveness Research Fee. Which are not to be confused with the Are We Sure We Really Want To Do This Fee.
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