Excise Tax on High-Cost Coverage -Will we pay?

Discussion in 'UPS Union Issues' started by Wally, Oct 31, 2013.

  1. Wally

    Wally Hailing from Parts Unknown.

    Anyone know how much the company will be spending per family/employee for our healthcare over the life of the proposed contract?

    I ask this because the "Cadillac tax" kicks in at $10,200, and $27,500 for a family.
  2. LagunaBrown

    LagunaBrown Well-Known Member

    You should call H&R Block or your tax guy not a UPS Blog. We will wait for an answer from you thanks.
  3. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    I thought Unions were exempt?
  4. PiedmontSteward

    PiedmontSteward RTW-4-Less

    There was a delay through 2016, I believe, but after that it'll kick in.

    The fair market value of my health care (UPS Company plan, no dependents, male under the age of 35) was roughly $4,400 last year.. nowhere near that $10,200 threshold. Even then, only the amount over the threshold will be taxed.
  5. LagunaBrown

    LagunaBrown Well-Known Member

    Just reported on W2's and wouldn't even effect non union till 2018 but I am no tax guy.
  6. Wally

    Wally Hailing from Parts Unknown.

    How would H&R know how big of a check the company is writing? I do remember a figure on our W-2's. I don't recall what that is off the top of my head, I thought someone might have estimated numbers.
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    2012 W-2's did not have the healthcare plan value for those of us in a Teamster plan.
  8. LagunaBrown

    LagunaBrown Well-Known Member

    I was being facetious..... Since you were in the UPS single employer plan it was reported. A Taft-Hartley is a multi employer plan coverage that can be excluded from the reported cost.
  9. RealPerson

    RealPerson Active Member

    Strange if WE Have the best insurance in the Country, how do we not meet the threshold.. Yeah that is a troll statement...

    I Wonder if Congress is Exempt????
  10. Inthegame

    Inthegame Well-Known Member

    Not "strange" at all. You're in a non-profit plan.