Chamber hosts discussion on health insurance tax
The Reno-Sparks Chamber of Commerce will host a roundtable discussion this Wednesday focusing on how the Health Insurance Tax will impact local employers and small businesses if immediate action is not delayed before the end of this year.
The roundtable is scheduled for 11 a.m., Wednesday, Nov. 15 at the Chamber offices at 449 S. Virginia Street, second floor, in Reno.
The HIT is a federal tax on health insurance plans purchased by small business owners, the self-employed, and workers who receive their health benefits through an employer. Without action by Congress to delay the HIT, this tax is estimated to impact 156 million Americans, with 50 percent of those paying the HIT earning an income between $10,000 and $50,000.
U.S. Senator Dean Heller of Nevada is a co-sponsor of the “Healthcare Tax Relief Act,” a bill in Congress that would delay implementation of the HIT tax for 2018. The effort to prevent a tax hike in the form of the HIT has been a top priority for small businesses and the employer community.
Nevada is home to more than 238,000 small businesses, which employ more than 428,174 private sector workers. A recent study by Oliver Wyman shows that families in the small employer market could be faced with $500 on average in higher premiums in 2018 as a result of the HIT.
To attend the event, RSVP to Amanda Brazeau at 775-781-9516 or firstname.lastname@example.org.
“As I’ve said repeatedly, the virus — and our personal actions to help mitigate its spread — drives the timeline,” Sisolak said in a Monday statement.