A study conducted by the actuarial consulting firm Oliver Wyman illustrates the burden the HIT placed on fully insured small and large employers. For example, the study shows that if the HIT was renewed for 2020, fully insured small businesses owners and their employees would have seen an additional $479 premium hike for family coverage. Fully insured large employers and their employees would have seen a premium increase of $458 for family coverage. Additionally, individual health insurance premiums would have jumped by $196 annually.
Lawmakers Push Health Insurance Premium Tax: Wyatt Bosworth, January 26, 2021, CBIA