In 2018, a not so little tax with an appropriately big sounding name, “The Cadillac Tax” will go into effect. Despite its name, it has nothing to do with your car. It’s a 40 percent excise tax on your “generous” health benefits—that is anything above the threshold of $10,200 for individual or $27,500 for family coverage. There’s some controversy about this tax. Do we need it to help fund Obamacare? Or, is it just another pay decrease for workers?
To understand what it all means, take a listen to ‘Cadillac Plans’ Get Obamacare Cut Back. I produced this show for “On Point” on WBUR.