Many parts of the Affordable Care Act — ObamaCare — are unpopular. Of all of them, the Cadillac Tax has the distinction of being number-one in the unpopular category. It goes into effect in 2018 and forces an employer to pay an excise tax of 40% on plans that exceed $27,500 per year in cost per family and $10,200 for individuals.
Nevada Republican Sen. Dean Heller and New Mexico Sen. Martin Henrich have introduced a bill in the Senate to do away with the tax. A similar bill is already in the House.
Heller said, “My hope is that reasonable members of Congress on both sides of the aisle will join us in this important, bipartisan endeavor to protect middle-class Americans.”
The senator may get his wish. The tax is very unpopular on both sides of the aisle.
The American Benefits Council said it’s important to deal with the tax now because major employers say they’re going to have to cut and alter benefit plans if something isn’t done.
Source link: Employee Benefit News