Posted: June 6, 2010

Exposing GA’s Hidden Premium Tax

Georgia’s hidden premium tax is among the highest in the nation. It is passed on to consumers in their premiums, which directly increases the cost of insurance products in the state. We must take steps to address this tax, which levied on all insurance companies doing business in the state of Georgia.

As Insurance Commissioner, I will work with the legislature to eliminate the Premium Tax.

Its impact goes beyond added costs to consumers. The tax is also a disincentive to our domestic insurance companies from growing beyond our borders and to out-of-state companies considering re-domesticating to Georgia. Estimates say that by eliminating this tax, we could potentially save up to 20% off the cost of health insurance. It is a tricky issue, but one that must be evaluated.

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