For Immediate Release
Washington, DC – American business cannot operate without legal and regulatory stability. The ERISA Industry Committee (ERIC) today said the Supreme Court removed a source of potential uncertainty in its decision in the King v. Burwell health care case. But the group said much legislative work is needed to fix the underlying law.
While 150 million Americans get their health insurance from work, upending the individual insurance market would have had significant ripple effects on companies, which provide coverage for their employees. ERIC members, the country’s largest employers, were providing health coverage to employees long before the Affordable Care Act.
“With the legal case settled, Congress should use this opportunity to repeal the burdensome and unnecessary taxes, mandates and reporting requirements imposed by the ACA,” says Annette Guarisco Fildes, president and CEO of ERIC. “Specifically, we want Congress to repeal the 40 percent health care excise tax, the employer mandate and all the related reporting requirements.”
These measures cause employers to devote costly resources to unnecessary compliance burdens and taxes, funds that are better spent on benefits for employees and other critical business needs.