Health insurance is expensive enough today, but a new tax scheduled to go into effect in 2018 is already making doctor’s visits and medical procedures pricier for middle-class workers.
The Affordable Care Act’s 40-percent excise tax, frequently mischaracterized as the “Cadillac Tax,” would be imposed on plans that exceed individual coverage costs of more than $10,200 and more than $27,500 for family coverage. Some employers already have or are planning to increase out-of-pocket limits, co-pays, and deductibles to pay for the tax, thus making workers the “pay-for” for the bill.
Keeping our current medical health plan was a promise made under the ACA – tell Congress to repeal the excise tax on middle-class families.
A recent report from the National Educational Association shows the excise tax disproportionally affects women, older employees and workers in high-cost insurance markets.
“Working class families would like to see their health care plan costs reduced, not increased, and the excise tax will either reduce the quality of their plans or increase the amount individuals or families will have to pay to keep their current health coverage,” said IAM International President Tom Buffenbarger in a letter to Congress.
Congressional momentum is building – two bills in the Senate and one in the House of Representatives would repeal the tax before it takes effect.