2015 Omnibus Bill Includes Delay on ‘Cadillac Tax’ So Families with Healthcare in US are Protected for Now
Members of the United Brotherhood of Carpenters (UBC) and participants in other employer sponsored health care plans in the U.S. can rest a little easier now that implementation of the “Cadillac tax” on those benefits has been delayed until 2020. This provision was included in the $1.1 trillion omnibus spending bill that was signed into law by President Obama. The House of Representatives passed the bill on a 316-113 vote, while the U.S. Senate passed it 65-33.
It is hoped that this delay in implementing the Cadillac tax, which would impose a 40% excise tax on the portion of group health plan premiums that exceed $10,200 for single coverage and $27,500 for family coverage, will lead to a full repeal down the road.
“When people take a closer look at the so-called Cadillac tax, they see how unfair it is for employers and employees,” said UBC General President Douglas J. McCarron. “We have been working hard with law makers and this two-year delay helps us on our way to a full repeal.”
Read this article here.
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