Friday, June 29, 2012

Tax implications of health care reform legislation

Tax implications of health care reform legislation - Managing Your Money
Section 1401 of the Amendment – High cost plan excise tax: Starting in 2018, high cost health insurance plans will be subject to a tax.
Plans for single persons that cost in excess of $10,200 and family plans that cost in excess of $27,500 are in this sections crosshairs.
The excise tax rate on incremental costs will be 40 percent.
In an attempt to appease union dissent, this tax will not be assessed on the individual but will be assessed on the insurance company providing the plan.
Ultimately, the costs will still be burdened by the purchaser.

Holy shiitake!
I just read it!
The property taxes of almost EVERYONE in the country will go up because of Sec. 1401-"High cost plan excise tax".
Most school and municiple unions have forced Cadillac style high-cost plans on the public.
Now we've got to pay a tax on the rip-off they've stuck us with too?!!!!!!

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