Obamacare: 40% tax on highend healthcare plans?

Discussion in 'UPS Discussions' started by want to retire, Jul 2, 2012.

  1. Anyone know this? Sounds like us. What does this mean? Us or UPS paying this 40% tax? 2018. A few years off, but.....It's not too hard to see what's coming......I told my wife yesterday, that its been a good run. I have been desperately looking for a reason to retire and I believe it just might be healthcare. I hate to say it.....universal healthcare is my ticket out.
  2. bbsam

    bbsam Moderator Staff Member

    I have asked in other threads but haven't gotten an answer. If it is "compensation", why isn't it and why shouldn't it be taxed?
  3. TearsInRain

    TearsInRain IE boogeyman

    the amount of disinformation the Republicans are putting out about Obamacare is staggering..
  4. This came straight out of the Star-Telegram.....mainstream newspaper. I think the amount the Democrats are trying to hide is staggering. From the just pass the Law and see what's in it MS. Pelosi.
  5. CRASH501

    CRASH501 New Member

    wow did you actually read through the 900 plus pages of B.S. in the proposal, if so please enlighten us Republican dopes as too how this works, what the TAX breakdown will be ect........
  6. bbsam

    bbsam Moderator Staff Member

    How fast could you republican dopes read through 70,000 pages from Eric Holder? I bet that wouldn't take long.
  7. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    Let me see ...
    bunch of politicians ...
    spreading disinformation about the other party and it's platform ...

    GOOD LORD, I am surprised.
  8. av8torntn

    av8torntn Well-Known Member

    I don't think we fall under it yet. The problem is that the price rises with the rate of inflation and the costs of health care have/will rise at a rate higher than inflation so it is just a matter of time until we will either pay the tax or receive lesser coverage.
  9. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Just super high end stupidity at work here someone has good healthcare others don't so let's tax the ones with good healthcare but of course make ourselves exempt to that tax.
  10. cheryl

    cheryl I started this. Staff Member

    This is all so confusing... After digging around on the internet for a while I found this info:

    Patient Protection and Affordable Care Act - Wikipedia, the free encyclopedia

    Effective by 2018

    A 40% excise tax on high cost ("Cadillac") insurance plans is introduced. The tax (as amended by the reconciliation bill) is on insurance premiums in excess of $27,500 (family plans) and $10,200 (individual plans), and it is increased to $30,950 (family) and $11,850 (individual) for retirees and employees in high risk professions. The dollar thresholds are indexed with inflation; employers with higher costs on account of the age or gender demographics of their employees may value their coverage using the age and gender demographics of a national risk pool.

    The following is from a public employee union website, but I think it applies to everyone:

    The Impact of the Excise Tax on High-Cost Health Plans

    How do I know if my health plan's benefits will be taxed?
    The tax will be imposed if, in 2018, the total employee and employer shares of the premium--without dental and vision--exceed:

    • $10,200 for an individual plan
    • $27,500 for a family plan
    The tax will be levied at a rate of 40% of the amount of the premium that exceeds these thresholds. For example, if the plan's individual premium is $11,000 in 2018, the plan will owe .4 X ($11,000-$10,200) = $320.The thresholds increase annually at a very low rate of inflation (CPI) + 1% in 2018 and 2019, and CPI only thereafter. As a result, more and more plans will be subject to the tax if health care inflation is not reduced by the new reforms.

    Are there any special adjustments?
    The threshold may be adjusted based on the age and gender of workers covered by the plan. Plans covering workers in high risk professions and retirees will also have their thresholds increased by:

    • $1,650 for single plans
    • $3,450 for family plans

  11. brett636

    brett636 Well-Known Member

    This will most likely affect our next contract negotiations. Because of this cadillac healthcare plan tax that starts during our next contract the company will have no choice, but to ask for heavy concessions on our healthcare plans in order to avoid this massive tax increase. There is a good chance we will all get to pay for this massive tax increase in the forms of lowered healthcare benefits. Remember to send your thank you cards to Obama and the democrats for this great improvement in our lives!
  12. brett636

    brett636 Well-Known Member

    You are confusing the Cadillac health plan tax with current income taxes. This is not a tax that is included when you file your 1040 every year with the IRS. This is a 40% tax that is charged to your employer if your healthcare plan is considered to be too expensive or lavish. Our healthcare plans at UPS will fall under this tax when it goes into effect in 2018. The teamsters fought hard for this President to get elected not knowing the hardships it will cause them in the long term as I don't think this has gone unnoticed by UPS management and will be brought up when contract negotiations start later this year or next.
  13. brett636

    brett636 Well-Known Member

    Why are you even commenting on this when its obvious you are clueless about this healthcare law. This cadillac healthcare plan tax is in the law that Barack Obama signed into law. It will affect us as UPS teamsters as concessions will have to be made in order to accomodate the actions of the man you obviously supported for President. Hope you like your cake.
  14. bbsam

    bbsam Moderator Staff Member

    Because from what Cheryl posted, people are running around yelling "Tax, tax, tax," and yet when you get down to the reality of it all, it's really quite sane and causes very little hardship if any. Damn details.
  15. Inthegame

    Inthegame Well-Known Member

    The excise tax imposed will be on the amount over $27,500 only, for family plans (UPS), not on the entire amount. Many UPS plans are either self funded or union run non-profit plans that will not exceed $27,500 annually even with the expected premium increases, and if they do you'll be paying a co-premium already that will lower that cost under the threshold. Affordable care act or not, UPS will not accept costs at that magnitude without co-premiums from employees. The free lunch is over. That's reality Brett, with or without President Obama.
    My question to you is why weren't you screaming when your beloved political party sat on their corporate funded asses when they had a chance to "fix" this broken system?
    Without the ACA costs will continue to escalate, most likely reaching levels even higher than the CBO estimates under ACA. Do you think if the ACA is struck down or repealed sick people won't seek care? Or maybe they won't get sick in Republican fantasyland? More visits to emergency rooms from uninsured won't lower UPS's healthcare costs. More people paying for their healthcare will.
  16. I'm sorry.....but you're just a damn, stupid idiot. We, UPS'ers have one of the best jobs with basically free healthcare. Obama, the Democrats and you are destroying it! What is with you left wing fools? Very little hardship? We don't want ANY HARDSHIP! We want life to get easier, NOT HARDER! Hey, take my hardship! Dumb:censored2::censored2::censored2::censored2::censored2:! The shame is the fools you voted for are selling you out! Right in front of your eyes! You are giving them the keys to your front door........and you don't even know it. And you'll sit around and wonder what happened......
  17. OptimusPrime

    OptimusPrime Active Member

    In a Republican Utopia they would bust all the Unions, so moot point. We all remember the Republican poster child Reagan and what he did to the Air Traffic Controllers.
  18. speeddemon

    speeddemon Guest

    Preach it !!!!! Let me go get you a soap box......
  19. bbsam

    bbsam Moderator Staff Member

    maybe the damn stupid idiot needs to go back and read cheryl's llink...if you can.
  20. bbsam

    bbsam Moderator Staff Member

    Maybe the two of you could get together and sound it out together.