"By repealing the 40 percent excise tax on high-quality healthcare plans, lawmakers have ensured middle-class Americans will not be penalized for having worked for, bargained and earned comprehensive healthcare coverage".
"We also continue on to delivers our promises to workers today will honor our promise to be to the hard working men and women of the labor of labor as we lift the Cadillac tax, protecting health benefits that workers have negotiated", House Speaker Nancy Pelosi said Thursday. Politicians don't like the tax on health benefits, but almost every economist thinks the Cadillac tax or a similar measure is necessary to help slow the rise in health care costs and curb overuse of health services, he added. The tax is created to hit more plans over time so that virtually everyone in an employer-provided plan, including low income workers and families with chronic or catastrophic health conditions, will ultimately be affected.
"Rather than focus on demand-side taxes, particularly this flawed tax, that will raise costs for working Americans and their employers, we believe Congress should focus on reducing supply-side drivers of medical inflation and unnecessary costs", said Marcotte. "There are also concerns it would unfairly target high-cost health plans that cover people in poorer health or people who live in areas where health costs are high". If the 40 percent tax on employer-sponsored health plans goes into effect, the affordability crisis will dramatically worsen. An even larger share (31%) could be affected when workers' voluntary contributions to Flexible Spending Accounts (FSAs) are taken into account.
According to a new analysis by the nonprofit Kaiser Family Foundation, the tax would affect 1 in 5 employers offering health benefits in 2022 unless employers reduce the value of their health plans. "Thank you to our champions, Representatives Joe Courtney (D-CT) and Mike Kelly (R-PA), as well as House Ways & Means Committee Chairman Richard Neal (D-MA), and House Democratic and Republican leadership, for bringing this important measure to the House floor".
Africa Cup Of Nations Final: Senegal & Algeria Starting XIs Announced
Algeria bested Nigeria, 2-1, to advance to the final, while Senegal beat Tunisia, 1-0, in a nail-biting overtime win Sunday. Algeria have arguably been the best team at Afcon 2019 and are fully deserving of their place in Friday's final.
"A strong bipartisan majority of members in both chambers supports full repeal of the medical device tax - and really, after today's vote on the Cadillac tax, it's not possible from either a tax or health policy perspective to justify this onerous tax", Whitaker added. To avoid the tax, insurers and employers might have to shift more costs to policyholders.
The Associated General Contractors of America has urged Congress to ratify this repeal.
Based on Congressional Budget Office estimates, repeal would add $193 billion to the federal deficit from 2022-2029, by scratching projected revenues off the government's books. The Senate companion bill, S. 684, introduced in March by Sens. The Senate will now decide whether to vote on the measure. "We hope Congress will repeal the device tax without delay".
A recent survey of almost 450 large USA employers by the nonprofit National Business Group on Health found that almost 3 in 4 would have at least one plan that triggers the excise tax in 2022.
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