Shhh....The Obama administration quietly finalized the Health Insurance Tax (HIT), a provision in ‪#‎Obamacare‬ that will cost nearly $60 billion over the next five years and raise health care premiums by 3%

◼ The final rule, published on Nov. 27, imposes a fee beginning in 2014 for health insurers with premium revenues over $25 million per year. The annual tax is levied for “United States health risks,” and is hidden from consumers since it is directly assessed on health insurance companies. - Washington Free Beacon

David R. Burton, a senior fellow in economic policy at the Heritage Foundation, said the tax will disproportionally impact small businesses.

“Most large corporations self-insure,” Burton told the Washington Free Beacon. “They may or may not have stop-loss insurance. Medium-sized businesses will self-insure but then have what’s called stop-loss insurance so that if their claims exceed a certain amount the insurance company will compensate them. The largest corporations are self-insured, period.”

“In contrast, small companies actually buy health insurance and it’s only the actual health insurance that is subject to the tax, self-insured plans are not,” he said....

Burton said estimates for premium increases range from 2.5 to 3 percent. The health insurance tax joins the list of Obamacare tax increases, including the medical device tax, payroll taxes, an excise tax on “Cadillac plans,” and others.

“It’s just one more way they’re raising the cost of employing people,” Burton said. “It’s hidden so people don’t really understand why, that’s probably one of the more insidious aspects of it is that it’s hiding the true effect of it because of the way it’s structured.”

“If people saw that 3 percent tax on their bill every month they would feel differently about it,” he said.