'Cadillac' Health Ins coverage will be taxed at 40%, do people realize that

B

Banker

New member
means they have to pay $10,400 tax? on their $26000 value health insurance policy? I don't think people understand just how much taxes they are going to be charged on this Health Insurance Reform bill. Do you think people realize what the true tax charge/increase will be?
 
No, they haven't been explaining it well. You get taxed on the amount that you go over their caps.
$23000 is the family cap, so if your family plan was $26000 you would be taxed on the difference, $3000, meaning you would pay $1200 in taxes on your plan. Now, if that $26000 plan was just for you, you would be exceeding the $8500 tax by $17,500 and have to pay $7000 in taxes.
 
Not everyone will be taxed - union members get their's tax free.

I believe there's something about "equal protection" that makes that little gem unconstitutional.
 
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