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

[Wally]

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.

 

[LagunaBrown]

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

 

[Catatonic]

I thought Unions were exempt?

 

[PiedmontSteward]

I thought Unions were exempt?

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.

 

[LagunaBrown]

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

 

[Wally]

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

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.

 

[UpstateNYUPSer(Ret)]

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

 

[LagunaBrown]

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.

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.

 

[RealPerson]

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????

 

[Inthegame]

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????

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