HIT, as it’s known, was passed in the original Affordable Care Act and took effect in 2014 to help fund the ACA. The tax was applied to health insurance plans purchased by small business owners, but Congress passed a one-year moratorium on it. The thing is, it affects everyone, according to a KTVN report, and it’s going to cost them—and some of them a lot—when it returns in 2018.
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