Cadillac Tax Delayed to January 2020
The U.S. President signed a budget bill delaying implementation of the Affordable Care Act's tax on high-value or "Cadillac" health plans.
Delayed from 2018, to January 1, 2020, the 40% excise tax on high-value health plans are currently set to impact family plan premiums (exceeding $27,500) and individual plan premiums (exceeding $10,200), and the tax will now be deductible.
Additionally, the budget bill funds the government through fiscal year 2016, summons the U.S. Comptroller General and the National Association of Insurance Commissioners to study the Affordable Care Act's age and gender benchmarks to determine the "Cadillac" tax thresholds.
Both sides of the administration support repealing the Cadillac Tax and the outcomes will be dependent on the next U.S. President and Administration.
Posted on Thu, February 11, 2016
by Matt Avery filed under