Healthcare Reform

  • ACA Expert to Westchester County Employers: Plan Now to Avoid ‘Cadillac Tax’ in 2018

  • APR 04, 2014 | BIZ TIPS, HEALTHCARE REFORM, US GOV'T | 0 COMMENTS

  • WCA Business Intel Breakfast Delivers Essential Tips on Reining in Costs, Ensuring Compliance

    Many Westchester businesses are focused on the upcoming healthcare employer mandate—that is, beginning next year, large employers must offer affordable health insurance to full-time employees and their dependents or be subject to penalties. (This applies to employers with 50 or more full-time employees and will be phased in over two years, depending on employer size). What employers also need to focus on—though it won’t take effect until 2018—is the excise tax, also known as the “Cadillac Tax.” The tax applies to what the government considers “high-cost” employer health-benefit plans — for most workers, more than $10,200 annually for individuals and $27,500 for families. Employers will have to pay 40 cents of tax for every dollar of health-care costs that exceed those amounts.

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