Q. Will the new tax on health insurance plans apply to self-employed individuals? R.B., Marietta, Ga.
A. No. There’s a lot of confusion over this new health law provision. Actually, the 40% excise tax on “Cadillac” health insurance plans is levied against health insurers, not individuals.
It applies if the annual premiums for a health insurance plan exceeds $10,200 for individual coverage or $27,500 for family coverage. But you can expect insurance companies to raise the premiums as a result of this new tax.
Tip: The excise tax on “Cadillac” health insurance plans doesn’t take effect until 2018, so you have plenty of time to consider alternatives.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/27862/steer-clear-of-tax-on-cadillac-health-plans "