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IRS moves to collect billions in Obamacare fees
Posted By -NO AUTHOR- On 03/02/2013 @ 12:58 am In Health,Money,U.S. | No Comments
(The Hill) The Internal Revenue Service on Friday unveiled its proposal to raise tens of billions of dollars through annual fees on health insurers, prompting fierce criticism from industry groups who warn the costs will be passed along to consumers.
The proposed rule from President Obama’s healthcare law will be published for public consideration in Monday’s Federal Register.
The rule would assess annual fees on most insurers that would total $8 billion next year and rise thereafter, eclipsing $14 billion in 2018, according to the IRS. The fees would vary in size, depending on a firm’s net premiums, and would come due by Sept. 30 every year.
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