Letter: Health Insurance Tax will hurt small businesses and economy

We need our congressional delegation to support the Jobs and Premium Protection Act in order to repeal the Health Insurance Tax (HIT). The HIT is not in the best interest of our economy or small business.

As a disabled veteran, I have health coverage through the VA. However, the HIT will be harmful to fellow small business owners who buy their own insurance, and especially those who provide it to their employees. It will result in an average of $500 in increased premiums annually for every covered employee. With all the other costs of doing business, this new expense could mean the difference between staying afloat or going under. The HIT also discourages businesses from hiring new employees due to the heavy cost.

Our economy is still weak, and the HIT’s expensive premium hikes have the potential to set us back further. Any potential benefits are far outweighed by the harm it would do. We need our legislators to vote to repeal this hidden tax for the sake of all independent businesses.

— Brad Heffele

owner, New Gun Traders

Anchorage