Massachusetts municipalities that offer employees, retirees, and elected officials the most generous and costly health insurance plans will feel the squeeze of the new national health care law’s tax on “Cadillac’’ insurance plans.You don't say, private enterprises pass down the taxes levied on them by the government, on their consumers? Crazy idea and yet horribly apparent to anyone with half a brain.
A family health plan that costs more than $27,500 would be subject to a 40 percent tax on every dollar spent above that threshold. The tax, set to take effect in 2018, would be levied on insurers, who would probably pass it on to municipalities and other employers. A few cities and towns already have family plans that exceed $27,500, and many others are on track to surpass that level before the tax kicks in.
Monday, April 05, 2010
Remember When The Health Care Bill Was All About Keeping Costs Low?
Yeah, me neither. However, that's what the President, the Speaker, and practically eighty percent of the media was saying. Turns out not so much, the Boston Globe writes now. It's time to hike those taxes way up! Just in time for when I hope to have some small kids and mortgage to pay (if I will be that lucky).