High Cost Cadillac Insurance Plans

Affordability And Sustainable Health Reform
America's Health Insurance Plans engaged PricewaterhouseCoopers Ins Reform Tax on "Cadillac Plans" Cost Shift Assessments +47% 21 Impacts assume payment of tax on high-value plans, cost-shifting of cuts to public programs, ...

Healthcare Debate "Clip Notes" from iOwnTheWorld.com

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The Patient Protection and Affordable Care Act (PPACA)[1][2] is a federal statute that was signed into United States law by President Barack Obama on March 23, 2010. This Act and the Health Care and Education Reconciliation Act of 2010 (signed into law on March 30, 2010) made up the health care reform of 2010. The laws focus on reform of the private health insurance market, provide better coverage for those with pre-existing conditions, improve prescription drug coverage in Medicare and extend the life of the Medicare Trust fund by at least 12 years.

The Act's provisions are intended to be funded by a variety of taxes and offsets. Major sources of new revenue include a much-broadened Medicare tax on incomes over $200,000 and $250,000, for individual and joint filers respectively, an annual fee on insurance providers, and a 40% tax on "Cadillac" insurance policies. There are also taxes on pharmaceuticals, high-cost diagnostic equipment, and a federal sales tax on indoor tanning services. Offsets are from intended cost savings such as improved fairness in the Medicare Advantage program relative to traditional Medicare.[6]

Total new tax revenue from the Act will amount to $409.2 billion over the next 10 years. $78 billion will be realized before the end of fiscal 2014.[7] Summary of revenue sources: * Broaden Medicare tax base for high-income taxpayers: $210.2 billion * Annual fee on health insurance providers: $60 billion * 40% excise tax on health coverage in excess of $10,200/$27,500: $32 billion * Impose annual fee on manufacturers and importers of branded drugs: $27 billion * Impose 2.3% excise tax on manufacturers and importers of certain medical devices: $20 billion * Require information reporting on payments to corporations: $17.1 billion * Raise 7.5% Adjusted Gross Income floor on medical expenses deduction to 10%: 15.2 billion * Limit health flexible spending arrangements in cafeteria plans: $13 billion * All other revenue sources: $14.9 billion

Effective by January 1, 2012 * Employers must disclose the value of the benefits they provided beginning in 2012 for each employee's health insurance coverage on the employees' annual Form W-2's.[32] This requirement was originally to be effective January 1, 2011 but was postponed by IRS Notice 2010-69 on October 23, 2010.[33] * New tax reporting changes come into effect which aims to prevent tax evasion by corporations and individuals. The provision is expected to raise $17 billion over 10 years.[34] Under the existing law, businesses have to notify the IRS on 1099 form of certain payments to individuals for certain services or property[35][36] over a reporting threshold of $600. But from December 31, 2011 the requirements will be changed so that payments to corporations and individuals must also be reported.[37][38] There are a number of exceptions: personal payments, payments for merchandise, telephone, freight, storage, and payments of rent to real estate agents are exempt from reporting.[35] The amendments made by this section of the Act (section 9006) shall apply to payments made by businesses after December 31, 2011.

Effective by January 1, 2013 * Self-employment and wages of individuals above $200,000 annually (or of families above $250,000 annually) will be subject to an additional tax of 0.5%.

Effective by January 1, 2014 * Insurers are prohibited from discriminating against or charging higher rates for any individuals based on pre-existing medical conditions.[10][40] * Impose an annual penalty of $95, or up to 1% of income, whichever is greater, on individuals who do not secure insurance; this will rise to $695, or 2.5% of income, by 2016. This is an individual limit; families have a limit of $2,085.[41][42] Exemptions to the fine in cases of financial hardship or religious beliefs are permitted.[41] * Insurers are prohibited from establishing annual spending caps.[10] * Expand Medicaid eligibility; individuals with income up to 133% of the poverty line qualify for coverage, including adults without dependent children.[41][43] * Two years of tax credits will be offered to qualified small businesses. In order to receive the full benefit of a 50% premium subsidy, the small business must have an average payroll per full time equivalent ("FTE") employee, excluding the owner of the business, of less than $25,000 and have fewer than 11 FTEs. The subsidy is reduced by 6.7% per additional employee and 4% per additional $1,000 of average compensation. As an example, a 16 FTE firm with a $35,000 average salary would be entitled to a 10% premium subsidy.[44] * Impose a $2,000 per employee tax penalty on employers with more than 50 employees who do not offer health insurance to their full-time workers (as amended by the reconciliation bill)

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Hearse - Wikipedia, The Free Encyclopedia
Though their cost is generally considered prohibitive. high capacity funeral homes have implemented designated "first-call" vehicles, The Cadillac hearse is now privately owned in central California and is preserved, ... Read Article

Senate Final Reconciliation Revenue Raised H.R. 3590 H.R ...
Health insurers offering high cost insurance plans (Cadillac Plans) of $10,200 (individuals) or more than $8,500 (individuals) or $27,500 (families); excise tax is $23,000 (families) attributable to excess benefit $32 billion 2018 ... Fetch Doc

Health insurance Mandate - Wikipedia, The Free Encyclopedia
Individuals with high annual incomes Half of the cost of insurance for adults is paid for by an income-related tax with which goes towards a subsidy of private insurance via the risk but the government provides subsidies to lower-class individuals to help them pay for their plans. ... Read Article

Special Report
High-cost “Cadillac” insurance plans, an increase in Medicare payroll taxes on wage earners in the $200K-plus income category ($250K for joint filers), and a handful of medical-related taxes, includ-C C H TA X B R I E F I N G ©2009 CCH. ... Return Doc

Employers Would Reduce Health Benefits To Avoid Excise Tax
'Cadillac' Plans? High-cost health insurance plans are sometimes called "Cadillac" plans because of the rich benefits they are assumed to provide.

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But according to an analysis in the January 2010 issue of the journal Health Affairs (Taxing Cadillac Health Plans May Produce Chevy ... View This Document

Helping Group Health Plan Sponsors Understand The Health Care ...
High-cost group health plans (Cadillac Plan Tax) Action Items • Evaluate and calculate “play or pay” Retiree-only plans: PPACA’s insurance market reforms, which include but are not limited to requirements or prohibitions relating to ... View This Document

FAQs: HEALTH CARE OVERHAUL LEGISLATION - American Optometric ...
Excise tax on high-cost "Cadillac" health plans. How will small employers be affected by the changes? Expensive, "Cadillac" insurance plans would draw a new tax starting in 2018, though the cost of vision coverage will be exempted. ... Fetch Content

Tax-Briefing Healthcare 11-23-09
An excise tax on high-cost “Cadillac” insurance plans, an increase in Medicare payroll taxes on wage earners in the $200K-plus income category ($250K for joint fi lers), and a handful of medical-related taxes, including a new fi ve per- ... Read Content

Effect On CWA Workers Take Home Pay Of Taxing Health Care ...
Baucus Excise Tax on “High-Cost” Insurance Plans is a Tax on Workers’ Health Benefits by Another Name. CWA negotiated health care plans are not “Cadillac Plans,” offering “excessive” benefits. ... View This Document

Cutting Health Care Spending
And Senate involves a steep excise tax on high-cost, so-called “Cadillac” insurance plans that the Senate included in its version of the legislation. that high-cost health insurance plans—sometimes called “Cadillac” plans—provide rich benefits ... Get Content Here

RSC Summary Of Senate Bill
An insurance plan option that does not cover abortion while giving each state insurance that would be subject to the tax on “Cadillac” or high-cost health care plans such as workers compensation, automobile medical payment insurance, ... Access Full Source

Obamacare's Five Tax Increases That Most Hurt Seniors
"Cadillac Plan" excise tax. Starting in 2018, Obamacare imposes a whopping 40% excise tax on high-cost ("Cadillac plan") health insurance plans. This is defined for seniors as a plan whose premiums These companies will surely build the cost of this new tax into the price of what they sell. Who ... Access Doc

HEALTH CARE REFORM GAME- PLAN - Small Business Resources ...
HealtH planS: If employers buy high-cost cadillac plans* that exceed certain cost limits, the insurance company (and possibly the employer) will have about health insurance plans and guidance on making important decisions for your company. *For definitions, see page 10. ... Fetch Here

Affordable Health Care For America Act - Wikipedia, The Free ...
Restrictions on abortion coverage in any insurance plans for which federal funds are used an High-cost insurance plans; Wealthiest Americans Medicare taxes; Indoor tanning tax: Insurance reforms: Yes: Yes: H: Remove anti-trust exemption ... Read Article

Top 12 Effects Of The Health Care Reform
To high cost “Cadillac insurance plans” with the hope of discouraging the escalation of health costs. “Cadillac” plans are plans with premiums of $10,200 or higher for an individual ($27,500 for a family). 12) Medical Deduction Threshold ... Read Full Source

Neeext! General Motors Files For Bankruptcy
All those 401Ks and retirement plans destroyed, and for what? and the “high cost of union labor”. Both legends are beancounter-babble run awry. 1992 Cadillac, 1994 Chevy Truck, 2005 Chevy Truck, 2006 Trailblazer and a 2009 Chevy Cobalt. All are surving my family well. ... Read Article

November 23, 2009 Health Reform: Is Tax On 'Cadillac' Plans Fair?
The numbers cited above for employer-sponsored plans don 't reflect people who buy their own health insurance. They usually buy plans with high deductibles, older workers drive up the cost of health premiums. But the Cadillac tax does raise revenue, ... Fetch This Document

Group Health Insurance Updates Presentation
Indemnity insurance policies where the full premium is paid by the employee on an after-tax basis •Archer MSA or HSA contributions of the High-Cost Plan Excise Tax (“Cadillac plans”) •Section 9001of Patient Protection & Affordable Care Act ... Access Doc

YouTube - Broadcast Yourself.
The dead polar bear image, where the corpse is sprawled on top of a crushed Cadillac, is bizarre. 72Yonatan 1 year ago Reply . just Denmark Thrives Despite High Taxes. by David Kestenbaum. a major Chinese railcar manufacturer announced plans to offshore the production of subway ... View Video

KEY BENEFITS - U.S. Senator Jeff Bingaman: Democrat From New ...
Excise Tax on High Cost Insurance Plans  Heath care reform places a new tax, beginning in 2018, on high cost, so-called “Cadillac” health insurance plans valued at over $10,200 for individual coverage and $27,500 for family plans.14 ... Fetch Doc

NATIONAL ASSOCIATION OF POLICE ORGANIZATIONS, INC.
Tax on so-called “Cadillac” health insurance plans, as proposed in the Patient Protection and Affordable Health Care Act. high cost health care plans would have serious and detrimental consequences for middle-class, hard working Americans, ... Document Retrieval