The Obama administration quietly finalized the Health Insurance Tax (HIT) over the Thanksgiving holiday weekend, a provision in Obamacare that will cost nearly $60 billion over the next five years and raise health care premiums by 3 percent.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.David R. Burton, a senior fellow in economic policy at the Heritage Foundation, said the tax...
