Bill Would Tax Insurance Claim Payouts to Fund Premium “Assistance”
The bill has not yet made it to committee, it was just introduced Thursday. But the idea of it will not make people happy.
Suppose you have a medical situation, and your insurance reimburses some of your expenses. Or perhaps you have money coming due to 'at fault,' or any other situation?
House Democrats want a piece of it. House Bill (HB) 2901, introduced by 5 Democratic west side reps, would place a tax on those payouts and dump the money into a fund that would help people who supposedly can't afford premiums pay them.
The bill says it would create a 'fund' to assist such individuals by "imposing a tax on claims paid." The tax, according to the legislative papers, would be administered annually, and would indeed tax insurance payouts of all kinds, it appears.
The money would go into a 'fund' and if a person meets certain criteria, they get a piece of your pie.
No idea how far this one will go, but if you want to read the bill yourself, click on the button below.