TAX BREAK: 100% for Self-Employed Health Insurance Costs
The House approved a package of business tax cuts yesterday that will accompany the House minimum wage increase bill. Included is a measure permitting self-employed workers to "deduct 100% of the health insurance costs" (Norton/Wegner, CongressDaily, 11/9). Effective immediately, the amendment -- sponsored by Sen. Pete Domenici (R-NM) -- also would allow deductions for "individually purchased health and long-term care insurance." Heralded as a "tremendous victory for consumers," the Health Insurance Association of America (HIAA) commended Congress for recognizing "that cost is the biggest obstacle preventing people from buying the coverage that they need and want" and for "giving credence to using the tax code to expand coverage" (HIAA release, 11/9).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.