IRS To Collect More Than $15.5B From 2020 Health Insurance Tax

The federal government will collect more than $15.52 billion from most health insurers in 2020 if Congress does not extend the existing suspension of the Affordable Care Act’s health insurance tax, IRS says in a guidance memo out Tuesday. The 2020 amount is the first that was not spelled out in statute, and it was calculated using a controversial revision to the premium growth methodology that CMS finalized this spring over universal stakeholder opposition, and, according to an internal memo,...