A Bismarck state senator says North Dakota’s insurance premium tax on nonprofit health insurance companies should be abolished.
Democrat Tracy Potter is drafting the proposal for the Legislature’s interim Industry, Business and Labor Committee.
In North Dakota life insurance premiums are taxed at 2 percent. Health, property and other forms of insurance are taxed at 1.75 percent. Potter says his legislation will apply only to nonprofit health insurers.
Blue Cross Blue Shield of North Dakota is not affiliated with Anthem Blue Cross Blue Shield of Connecticut or its parent, WellPoint Inc.Â
Insurance Commissioner Adam Hamm says he’s studying the idea. He says the Blue Cross Blue Shield and Medica Health Plans companies are the biggest health insurance nonprofits doing business in North Dakota. He says during the last budget year, they paid $7.5 million in premium taxes. (AP)
