Twisting the knife in small businesses
My husband and I own an S-Corporation with 6 employees including ourselves in DuPage County.
We just received notice of a 3.1 percent ACA tax from BCBS that will add $22.72 per month per employee. The two combined taxes, the health insurance fee and a reinsurer fee, will be collected from the insured and paid by the insurance company to HHS (Health and Human Services) who will then redistribute it to health insurance carriers who offer health insurance on the exchanges and are taking on large risks of people with serious health problems. It is my understanding that large companies and self-insured companies do not have to pay this tax including government employees and that unions are seeking exemptions.
As though the last five years haven't been challenging and difficult enough for small business in Illinois. Each complicated government fee and regulation further twists the knife in the belly of small business.