Monday, September 28, 2015

Will the Cadillac Tax Go the Way of the Edsel?

On September 17, Senators Dean Heller (R-NV) and Martin Heinrich (D-NM) introduced the “Middle Class Health Benefits Tax Repeal Act of 2015,” bipartisan legislation that would repeal the IRC 4980 excise tax on high cost employer-sponsored health coverage (the so called “Cadillac tax”). Beginning in 2018, the Cadillac tax, which was added by the Affordable Care Act, would tax employers whose health insurance plans cost more than $10,200 a year for individuals and $27,450 a year for families at 40% of the cost above these limits. The bill is a companion bill to similarly titled H.R. 2050, which was introduced in the House on April 28.

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