The Phaserl


Nearly Two-Thirds Of Businesses Changing Coverage To Avoid New Obamacare Tax

from Western Journalism:

A new survey finds that nearly two-thirds of businesses facing a new Obamacare tax will change their coverage to avoid it.

The survey, conducted by the International Foundation of Employee Benefit Plans, finds that 62 percent of the nearly 600 companies polled have already taken action or plan to take action to avoid the so-called “Cadillac tax.”

The tax on higher premium plans is set to take effect in 2018 and impacts those plans costing businesses over $10,200 for individual coverage and $27,500 for family coverage. For every dollar spent over that threshold, employers will be hit with an excise tax at a punishing 40 percent rate.

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