×

Health Insurance Tax bad for business

Kent Kirkhammer

Minot

Our company, NewKota, is a growing leader and innovator in our industry, providing service across all corners of the oil field.

One thing NewKota prides itself on is our people. We currently employ just under 100 people with the hope of continued growth, especially here at home in Minot. But today we are already losing potential employees because of the cost of health insurance.

As we expand and deal with an ever-changing oil industry, there is growing concern about the effects of the Affordable Care Act’s health insurance tax (HIT) on our business and the North Dakota economy. We had relief from the tax this year, but it is scheduled to return in January unless Congress acts.

I’ve recently been made aware of a study from Oliver Wyman that shows if the HIT is reinstated in 2018, individual premiums would increase anywhere between $165-$180, and premiums for North Dakota families would increase anywhere between $460 and $500. That’s as much as $5,000 per employee over the next ten years, and quite the blow to small business.

Companies like ours covering their employees may not be able to grow and hire workers because of this added burden.

It is a no-brainer to delay the HIT tax again before it takes effect in January. Senator Heitkamp needs to show the people of North Dakota she’s on our side and delay the HIT before it’s too late.

Newsletter

Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper? *
   

Starting at $4.62/week.

Subscribe Today