You’ve probably already heard at least something about the dreaded “Cadillac plan tax,” a 40 percent excise tax that will be imposed on high-value health benefits packages starting in 2018. This tax, which will apply to individual coverage valued at $10,200 and above and family coverage of $27,500 and up, is an attempt to encourage employers and insurers to help curb the total costs of providing health care and health coverage.
As to how the tax’s rules should be written and enforced, it appears even the IRS is stumped. That’s why, in their recent IRS Notice 2015-16, they’re asking for your advice. This notice deals with Internal Revenue Code (IRC) Section 4980I and welcomes comments through May 15th of this year.
You can find more information about the current status of the Cadillac plan tax by reading this full article on LifeHealthPro.