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House committee hears heated testimony on bill to raise health insurance premium tax
Summary
A House Finance hearing on HB 2626 drew opposing panels of insurers and business groups who warned a 1 percentage-point increase would raise premiums, and consumer advocates who urged directing revenue to health subsidies to offset federal changes. No vote was taken; the hearing closed after extensive testimony.
Representative (prime sponsor, name not stated in transcript) presented House Bill 2626 as a targeted revenue measure to bolster state healthcare funding after federal changes that may cost coverage for hundreds of thousands of Washingtonians. The bill would raise the insurance premium tax on health maintenance organizations, health care service contractors and certain arrangements from 2% to 3% beginning March 1, 2027; it would repeal a dentistry-related exemption and impose a new 1% tax on some disability and group stop‑loss insurers beginning March 1, 2028.
The staff briefing by John Bernitzky summarized the bill’s fiscal estimates. The Office of the Insurance Commissioner told the committee the measure could increase state general fund receipts materially, with preliminary estimates cited for biennia, and that…
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