The premium tax also threatens to further strain state budgets, whose largest cost is generally Medicaid.
For the employer to pay a fine, an employee has to qualify for a premium tax credit.
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Well, an employee would only qualify for a premium tax credit if their income falls below 400% poverty level.
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Repealing the premium tax represents a simple way for Congress to arrest this looming growth in the cost of health insurance.
The premium tax also threatens to make our current economic problems worse.
Former CBO director Douglas Holtz-Eakin figures that the premium tax will add 3 percent to the cost of family coverage over the next decade.
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Generally, section 4980H(b) liability may arise because, with respect to a full-time employee who has been certified to the employer as having received an applicable premium tax credit or cost.
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Individuals may qualify for a nice premium tax credit on one hand, but lose a big part of that tax credit in the form of paying for health insurance with post tax dollars.
In addition, there will be a fully operational individual exchange where their employees can go to purchase great health insurance and possibly qualify for premium tax credits to help pay for that health insurance.
However, the employer will have to pay a shared responsibility fee if their employee purchases coverage through a new exchange with the help of a premium tax credit targeted toward middle to low income families.
Many Medicare Advantage plans will ultimately get paid less next year due to several other variables like a premium tax that is called for in the health care overhaul, the massive federal law that aims to cover millions of uninsured people.
With stealth taxes rising on pensions, ISAs, Peps where you can no longer reclaim with-holding tax, on top of insurance premium tax, rises in National Insurance and the reduction (in real terms) of allowances, the fact that many people are incapable of understanding tax credits and do not claim them.
So for older folks with high medical expenses and relatively low incomes, the long-term care premium tax deduction is more likely to come into play than for middle-aged folks. (Another wrinkle: under ObamaCare, starting Jan. 1, 2013, the 7.5% floor goes up to 10% unless the taxpayer or his or her spouse is 65 or older).
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However, beginning in 2014, businesses with 50 or more full-time employees (or full-time equivalents) that do not offer affordable health insurance that provides a minimum level of coverage to substantially all of their full-time employees (and their dependents) may be subject to an employer shared responsibility payment if at least one of their full-time employees receives a premium tax credit to purchase coverage in an insurance Marketplace.
The private sector will invest money in projects and get it back in the shape of tolls, user fees, premium pricing or even tax breaks.
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What Avik somehow fails to reference is the fact that the included chart represents the premium changes without the tax subsidies provide by the Affordable Care Act.
With life insurance, insurability needs to be secured, and a tax-smart premium funding strategy should be devised.
And a study by consulting firm Oliver Wyman figures the tax will boost premium costs by as much as 3.7 percent a decade from now.
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It's the premium that rich investors place on tax protection that has soured many of them on mutual funds.
An IRS premium table tells Google how much tax to collect.
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Remember though that the payroll taxes only actually cover one third of the cost (other funding sources such as premium payments, state transfers, general tax revenue, and borrowing cover the rest).
Within tech journalism (OK, alright, I confess, only over at The Register where I also write) we tend to refer to the Apple Tax as being just that premium that one pays for Apple products.
Administration officials point to a report by the Democratic staff of the House Energy and Commerce Committee last week that determined that in Oregon and Washington the competition is lowering premium rates even before income-based tax credits are taken into account.
Many individuals and families will be eligible for a new kind of tax credit to help lower their premium costs.
Falling prices and the looming expiration of the production tax credit, which pays a premium for wind energy, unleashed a wind farm building boom last year.
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In the short term, the plan proposes an electronic tax-collecting system, a fuel premium for private cars, imposing parking charges and creating more bus lanes.
Its pre-sale estimate is quoted net of buyers' premium, VAT, the artist's resale tax (or droit de suite, as it is usually known), and any other extra cost.
While the state may be able to embargo through taxation premium brands from entering our territory, it cannot tax the brands made in our territory or any of the Six Nations.
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