On October 15th, the Alliance to Fight the 40 urged Congress to repeal the 40% tax on health benefits and protect the health care that safeguards 175 million Americans.
The Alliance to Fight the 40 is a broad-based coalition of employee and employer organizations representing or providing health coverage to Americans in every state.
The Affordable Care Act imposes a 40% non-deductible tax (also called the “Cadillac tax”) on the cost of employer-sponsored health coverage that exceeds certain thresholds. This tax will impact a wide range of plans covering retirees, small businesses, self-employed individuals, state and local governments as well as non-profit organizations.
Numerous studies show that the 40% tax is forcing employers to shift costs to employees in order to avoid the tax. This increased cost-burden is falling hardest on those least able to afford it – lower-income, sicker and older workers. The increased cost burden for employees may jeopardize employees’ access to affordable care and therapies.
To date, 257 House members and 30 Senators have cosponsored legislation to repeal the 40% tax. Congress must act now to repeal the 40% tax, and protect employer-sponsored insurance coverage for millions of Americans.
For more information check out our website: www.fightthe40.com or follow us on Twitter @fightthe40.