The new surveys found that the excise tax is already having, and will continue to have, a significant impact on employers and employees alike:
• Almost 90 percent of large employers are taking steps to try to prevent their company from having a plan that triggers the excise tax in 2018;
• Over 30 percent of large employers said they would have at least one plan impacted by the excise tax in 2018;
o Almost half of the employers that did not have plans hitting the excise tax in 2018 said they would have a plan that would be impacted by 2023;
• Almost 19 percent of large employers were already curtailing or eliminating employee contributions to flexible spending accounts (FSAs) in order to avoid triggering the excise tax;
• Almost 13 percent were already curtailing or eliminating employee contributions to health savings accounts (HSAs); and
• Among employers who are going to reduce the values of their plans as a result of the excise tax, 71 percent of employers said that they probably would not provide a corresponding wage increase; 16 percent said they would raise wages in response to benefit cuts.
The study was featured in Politico today: