The Cadilac Tax is Coming

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The Cadilac Tax is Coming - 4/6/2015 4:21:01 AM

KenDckey

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http://www.politico.com/story/2015/04/obamacare-health-care-cadillac-tax-116659.html

The cadilac tax on health care benefits is coming. Unions and labor are in fighting the loss of their benifits And the Dems will probably get the blame.

And if you think the companies will cover this out of their profits, you are probably wrong. They are already trying to cut benefits to keep from having to pay this starting in 2018. Those that can't will, because they are in the business of making a profit, raise prices on the consumer.

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RE: The Cadilac Tax is Coming - 4/6/2015 2:16:31 PM

MercTech

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Yep, that was seen coming. As health insurance is now a personal responsibility; even if you still have an employers subsidizing your health insurance, you are liable for taxes on the full payment of the policy.

Say, you have $50 a paycheck taken out for health insurance. The employer might be paying $800 a month for that policy and writing off the difference on taxes. The impression of what the ACA is going to mean is that the individual is going to have to show that $800 a month for insurance as INCOME now.

Que Sera... It costs the average Joe more money for a poorer product now.

(in reply to KenDckey)

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RE: The Cadilac Tax is Coming - 4/6/2015 2:39:34 PM

DesideriScuri

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quote:

ORIGINAL: MercTech
Yep, that was seen coming. As health insurance is now a personal responsibility; even if you still have an employers subsidizing your health insurance, you are liable for taxes on the full payment of the policy.
Say, you have $50 a paycheck taken out for health insurance. The employer might be paying $800 a month for that policy and writing off the difference on taxes. The impression of what the ACA is going to mean is that the individual is going to have to show that $800 a month for insurance as INCOME now.
Que Sera... It costs the average Joe more money for a poorer product now.

Any proof that insurance paid by the employer is going to be treated as income, for tax purposes?

The Cadillac Tax is an extra tax paid by employers who spend too much in covering their employees. Not only will employers face a tax fine if they don't offer insurance (and they have at least 50 employees), but they'll have to pay a tax fine if they spend a lot of money covering their employees with awesome benefits.

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What I support:

A Conservative interpretation of the US Constitution
Personal Responsibility
Help for the truly needy
Limited Government
Consumption Tax (non-profit charities and food exempt)

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RE: The Cadilac Tax is Coming - 4/6/2015 2:50:38 PM

mnottertail

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Don't ya give me no Buicks, son you must take my word..............................

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Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: The Cadilac Tax is Coming - 4/7/2015 12:32:45 AM

MrRodgers

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Once again, America's true core values raise their greedy heads.

(in reply to KenDckey)

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