Bill > A06012

This bill, the Health Care Tax Reform Act, eliminates certain taxes and assessments on health insurance. Specifically, it: - Reduces the Section 206 assessment on insurance companies over several years, from 80% of the current assessment in 2023 to no assessment by 2029. - Reduces the 1.75% tax on commercial health insurance policies over several years, from 1.75% in 2024 to 0% by 2029. - Reduces the 9.63% sales tax surcharge on hospital-based health services over several years, from 22.61% in 2024 to 0% by 2028. - Reduces the "covered lives assessment" tax on privately insured individuals over several years, from 22.61% in 2024 to 0% by 2028. The goal of these changes is to make health insurance more affordable for consumers in New York by reducing the tax burden on health care and health insurance.