Obamacare Taxes Add BILLIONS to Rising Premiums

On top of rising premiums, Obamacare taxes are adding hundreds of dollars per year onto customers’ costs, according to new study from the American Action Forum.

Those who braved the health-care law’s exchanges will have to pay an extra $354 on average in 2014, reports the free-market D.C.-based think tank, just due to seven taxes included in Obamacare.

The vast majority of the country covered by employer-sponsored health insurance will be forced to pay a somewhat lower tab of $196 to cover the taxes. Those with self-funded employer-sponsored insurance are exempt from several of the largest culprits and will have the lowest added cost at $94 in 2014, which will drop to $59 by 2016.

One is aimed at the insurance companies, forcing them to pay the federal government for the privilege of selling health insurance — an ironic touch for a law meant to make health coverage cheaper. AAF estimates that this tax alone, which will be passed onto consumers, will cost an extra $101 in 2014; in 2015 and 2016, it’ll be increased to $143 on average as the federal government ups their funding requests every year.

In 2014, the total tax will amount to $8 billion; in 2015 and 2016, it’ll be $11.3 billion, and the current plan comes it at $14.3 billion in 2018.

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