Obamacare socks union health plans with 40% tax

Discussion in 'UPS Union Issues' started by bellesmom, May 19, 2013.

  1. bellesmom

    bellesmom Member

  2. Atomic_Smurf

    Atomic_Smurf Well-Known Member

    Amazing that our union leadership enthusiastically supported this law with a $27.5k threshold on family plans. It since has been raised but still caps our bennies. Imagine our union agreeing to cap our pay 20 yrs ago & we were reaching that cap now. That's what this law does not only for our future healthcare plans, but for our current to keep them as far away from the 40% tax as possible. It's just one of the 21 new Obamacare taxes that are pushing working class Americans out of their employer health plans.
     
    Lasted edited by : May 19, 2013
  3. bogeyball

    bogeyball Member

    Huh?

    But the enlightened one said that we could keep our plan if we wanted..... can you see a connection, being forced into universal health care. Our beloved Union is complicit in this whole damn scheme.
     
  4. steward71

    steward71 Active Member

    Re: Huh?

    Bingo, you have been awake. Good for you.
     
  5. bbsam

    bbsam Moderator Staff Member

    So for a family plan of $30,000 the tax would be $(30,000-27,500) x .40. That's 40% of $2500. That's $1000. Sounds like a damn good deal to me.
     
  6. balland chain

    balland chain Member

    When all the Obama care info came out that I read over, it is my understanding that we will be taxed on the value of the plan we are on.. If we pay nothing for it the value of it will be added to our gross income for each year.. So if we are on a plan that is valued at 15,000 for a single person such as I, the tax would be in the area of 4500.00 to 5700.00 depending on your deductions and itemized filings.. I spoke with my accountant about this, and since we are on what they call premium plan we will be taxed at a higher rate.. So for a family plan that is valued at 30,000 the taxes would be in the area of 9000.00 to 11,000.00.. This is how my accountant explained it to me.. These taxes collected will pay for insurance for those who are unable to afford insurance... Again, it will all depend on how creative we can be with our deductions..
     
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Obamacare socks union helath plans with 40% tax

    bbsam is right---you will only be taxed on the amount over the threshold.
     
  8. bbsam

    bbsam Moderator Staff Member

    last I heard the cost for a family plan at UPS had not reached the $27,500 mark, had it? Very possible you won't be taxed on it at all.
     
  9. bbsam

    bbsam Moderator Staff Member

    if this were true, no company would ever offer such a plan. They would reduce coverage to keep it at $27,499
     
  10. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    This year it is just less than $20k ... a comfortable margin at this point.

    ​The single plan cost is just under the limit ... an area of more concern.
     
  11. oldngray

    oldngray nowhere special

    It seems to me the real concern here is that there is nothing to take into account any rising costs in the future, so will only be a short time before those marks such as $27,500 are reached, and after that the really big costs will start to kick in.
     
  12. ajblakejr

    ajblakejr Age quod agis

    Complain and moan. At least you know who will be your Health Care provider unlike other working Americans who are starting to fear what their employer will do at annual enrollment.

    Remember this is the Affordable Care act.

    Key word is Affordable.
     
  13. PT Car Washer

    PT Car Washer Well-Known Member

    Control health care cost.
     
  14. Atomic_Smurf

    Atomic_Smurf Well-Known Member

    What about the future of employees plans? Whether its inflation or simply legislation failing to do what it promised time will get us to that threshold. Imagine capping out pay decades ago when people thought 60k yr was rich.
     
  15. upsset

    upsset Member

    This is yet another example of people not getting the the full story on how something is or works and then interperting and speculating it into some big scarey dooms day scernario that is not even close to reality.

    1st it is stated that we will be taxed 40% without knowing how it works or if it is true.

    2nd someone posts a threshold amount without even knowing or explaining what that means.

    3rd a formula is posted which produces a number which may or may not be correct.

    4th since the number above does not sound too unreasonable, another calculation is done jacking the numbers way up, again may or may not be correct

    5th then a post demonstrating that it is possible that it will have no affect at all, all current information being considered.

    6th there is no point even saying "IMAGINE IF" the union 20 years ago would have accepted a wage cap...........because they didn't!!!! again a statement to just make your post a little more scarey.

    I have rambled on far enough, the point being........ lets try and deal in facts and leave the fantasies and speculation out of it. There is so much misinformation about this whole process in circulation many people will end up throwing their hands in the air and their ballots in the trash because they won't be able to make an informed decision.
     
  16. RealPerson

    RealPerson Active Member

    Just know, it will NOT be good....
     
  17. rpoz11

    rpoz11 Member

    All has got my attention now.

    Is it inevitable that all of this HC change is a permanent thing
    Or
    Could there be challenges legally to any of this?
     
  18. Bagels

    Bagels Family Leave Fridays!!!

    Turn off ESPN and turn on the evening news sometime.

    Or try Googling CNN, FOX News, NBC News, ABC News, CBS News, etc.
     
  19. balland chain

    balland chain Member

    Most companies will eliminate the health plans and pay the penalty.. It will save them money.. If UPS were to get our insurance they would save a ton by eliminating the health insurance for employees and pay the penalty...
     
  20. Bagels

    Bagels Family Leave Fridays!!!

    Companies have been eliminating health insurance for over 30 years, which is the contributing cause toward soaring health care costs. At least the penalty will help the government subsidize insurance for persons whose health care it's already paying for.

    I do love how the right wing media portrays uninsured people as not using our current health system.