Friday, September 25, 2009

A Tax on Cadillac Health Plans May Also Hit the Chevys

This is just outrageous. Senator Max Baucus is proposing to put a "luxury tax" on companies who provide the most expensive health insurance policies to their workers. Unfortunately, Senator Bacus is pegging that tax at policies that cost more than $21,000 a year.

The NYT does a great analysis of this outrageous proposal, but misses the mark. Most business owners in New York and New Jersey with small groups pay more than $21,000 a year for their policies. I do. In fact, I had to increase our deductibles because my new health insurance policy was going to cost $30,000  a year! I have the basic 40/40 coverage, with $40 co pays, no dental, no eyeglasses, I pay for hospitalization on a daily basis for 5 days, etc. It is certainly not a cadillac policy. It is a policy for a small group of employees.

And you are going to increase my cost by 35%? Are you out of your mind? More>>>

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