Tags: Healthcare Reform | obamacare | cadillac tax | healthcare plans | congress

Battle Lines Readied on 'Cadillac Tax' for Obamacare Plans

By    |   Tuesday, 28 Apr 2015 07:59 AM

A group of Democratic lawmakers, supported by Republicans, is urging repeal of a 40 percent excise tax — the so-called Cadillac tax — on high-priced employer health insurance slated to go into effect in 2018.

The Cadillac tax would be felt by those with coverage worth over $10,200 for individuals and $27,500 for families. Proceeds would go to help defray the costs of President Barack Obama's signature healthcare program, The Hill reported.

To date, the federal government has not taxed the value of health insurance that employers provide to their workers. The tax could be extended down to other income groups over a span of 20 years, according to The Washington Post.

The Democratic lawmakers who want to revoke the tax on the most expensive of insurance plans include Connecticut Rep. Joe Courtney, New Jersey Rep. Donald Norcross, and Rep. Dina Titus of Nevada, according to The Hill.

Courtney, Norcross and Titus will unveil their Middle Class Health Benefits Tax Repeal Act at a Tuesday press conference alongside leaders of the American Benefits Council, National Association of Counties, and the Economic Policy Institute, The Hill reported.

Their repeal measure is supported by the U.S. Chamber of Commerce and by Republican lawmakers, according to Politico.

"The excise tax is an unnecessary change that would adversely impact beneficiaries in high-cost areas," Courtney said in a statement.

Other Democrats, backed by the administration, support the tax on the grounds that it exclusively impacts wealthy Americans, according to The Hill. The tax is intended to bring in to the Treasury $80 billion over 10 years.

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A group of Democratic lawmakers, supported by Republicans, are urging repeal of a 40 percent excise tax — the so-called Cadillac tax — on high-priced employer health insurance slated to go into effect in 2018, The Hill reports.
obamacare, cadillac tax, healthcare plans, congress
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2015-59-28
Tuesday, 28 Apr 2015 07:59 AM
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