If Healthcare Benefits Tax Becomes Law, A Third Of All Plans Would Be Taxed By 2019 – 12/28/09

Submitted by Doug Cunningham on December 27, 2009 - 1:02pm
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By Doug Cunningham

Unless it’s taken out in conference with the House, the tax on working family health care benefits approved by the U.S. Senate would not just hit a few so-called Cadillac health insurance plans. This new tax on your health care benefits would actually ramp up very quickly to impact a third of all employer-based healthcare benefit plans by 2019. It would hit 19 percent of individual plans and 14 percent of family plans when it takes effect in 2013. Thirty-one million taxpayers would be affected by the tax in 2019. The average tax increase on your health care plans will be $1318, according to a Communications Workers of America analysis. And this tax hits workers harder than wealthy taxpayers. Citizens for Tax Justice says the healthcare tax pn people making $1 million or more will be .1 percent of their income. For families earning between $50,000 and $75,000 it would be 1.4 percent of their income.