TMA opposes House bill to slap 1 percent assessment on health insurance claims
Legislation to impose a 1 percent assessment on health insurance claims would increase insurance industry costs that will be passed onto customers, Midwest-based manufacturers service provider Technology & Manufacturing Association said in a recent statement.
"As an Association that represents and advocates on behalf of manufacturers across Illinois, TMA opposes HB 272 because it is an additional, unnecessary tax on health care providers that will be passed down to manufacturers in the form of higher premiums," TMA said in its statement to Prairie State Wire. "Manufacturers are already having a difficult time keeping up with rising health care costs, and this legislation will only make the cost of doing business in Illinois even higher."
Technology & Manufacturing Association is headquartered in Schaumburg.
HB 272, the Health Insurer Claims Assessment Act, would impose the assessment on claims paid by health insurance carriers or third-party administrators. Money collected under the act would be used to fund Medicaid services in Illinois.
HB 272 has been in the House Appropriations-Human Services Committee since late January.