ICYMI: New Study Highlights the Cadillac Tax’s Continued Threat to Health Coverage

ICYMI: New Study Highlights the Cadillac Tax’s Continued Threat to Health Coverage

 

A new study by the International Foundation of Employee Benefit Plans, the 2016 Employer-Sponsored Health Care: ACA's Impact, highlights the effect the “Cadillac Tax” will have on employer-sponsored health coverage.

 

Key findings include:

• 28% of employers are working to avoid the “Cadillac Tax”
• 59 % of organizations working on changes to avoid the tax are not considering halting efforts based on the two-year delay in the tax.
• Nearly three-quarters (73%) of employers have already adopted plan design changes to avoid the tax, are now trying to do so or plan to do so before it takes effect in 2020.

 

According to the report, workers are already seeing higher deductibles and increased out of pockets costs.  

 

We must repeal the “Cadillac Tax” now.

If we wait, it will be too late.

 

 

The study can be found here.

 

The Alliance to Fight the 40 is a broad-based coalition comprised of public and private sector employer organizations, consumer groups, patient advocates, unions, health care companies, businesses and other stakeholders that support employer-sponsored health coverage. This coverage is the backbone of our health care system and protects over 175 million Americans across the United States. The Alliance seeks to repeal the 40% tax on employee health benefits to ensure that employer-sponsored coverage remains an effective and affordable option for working Americans and their families.

 

 

ICYMI: CancerCare Releases Landmark Study, Highlights Financial Impact of Cancer

ICYMI: CancerCare Releases Landmark Study

Highlights Financial Impact of Cancer

Looming “Cadillac Tax” Poses Greater Burden

 

This week, Alliance to Fight the 40 member, CancerCare released its landmarkstudy to provide a comprehensive view of how people experience life with and beyond cancer. The study consisted of six surveys, each with at least 500 respondents, including one on the financial and insurance issues facing cancer patients and their families.

 

The Alliance is working with CancerCare to repeal the “Cadillac Tax,” which is a 40% tax on health benefits and threatens the employer-sponsored coverage of 175 million Americans. The study illustrates that cancer patients and their families are already under tremendous financial strain. The “Cadillac Tax” must be repealed to prevent further financial burdens for patients that may compromise their ability to pay for life saving treatment.

 

Key Findings: Financial and Insurance Issues

• Fifty-eight percent of respondents reported being distressed about their finances during treatment. Among those 25 to 54, three-quarters said cancer caused them financial hardship.

• In order to afford treatment, one-third of respondents ages 25 to 54 reported cutting back on daily essentials, such as groceries and transportation, and/or borrowed from family members and friends; 21% missed a utility bill payment; and 17% missed a rent or mortgage payment.

• A quarter reported being dissatisfied with the affordability of deductibles, and nearly 20% were dissatisfied with their poor access to genetic testing, clinical trials, and new treatments or drugs.

• When asked to tabulate their average monthly out-of-pocket spending for treatment-related expenses, non-elderly respondents reported spending $1,112, nearly twice as much as those 65 and older.

• The findings of this survey indicate that costs related to accessing medical care are important barriers to following physicians’ recommendations at the time of a cancer diagnosis.

Click here for the 2016 CancerCare Patient Access and Engagement Report

 

TheAlliance to Fight the 40 is a broad-based coalition comprised of public and private sector employer organizations, consumer groups, patient advocates, unions, health care companies, businesses and other stakeholders that support employer-sponsored health coverage. This coverage is the backbone of our health care system and protects over 175 million Americans across the United States. The Alliance seeks to repeal the 40% tax on employee health benefits to ensure that employer-sponsored coverage remains an effective and affordable option for working Americans and their families.

Women Targeted by the "Cadillac Tax"

As we end Teacher’s Appreciation Week and head in to Mother’s Day and Women’s Health Week, it’s time to acknowledge the importance of good health coverage that protects the millions of hard working moms, and women, everywhere.  The Affordable Care Act has helped millions to gain access to health insurance. Unfortunately, there’s a provision in the Affordable Care Act that will go in to effect in 2020 that threatens the health coverage 175 million Americans who receive health coverage through their employers.  While it is known as a “Cadillac Tax” because it’s supposed to hit “luxury” health plans, in reality, it’s a crappy mini-van tax that disproportionately targets women simply because they happen to have higher health care costs, not because they have fancy health plans.

 

To celebrate women, and protect their health coverage, tell Congress to repeal the “Cadillac Tax.”

 

To learn more: www.fightthe40.com