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“Cadillac Tax” delayed until 2020

The Affordable Care Act’s (ACA’s) 40 percent excise tax on employer-sponsored high-cost health plans has been delayed by two years. The tax, commonly known as the Cadillac Tax, was supposed to take effect in 2018 but has now been delayed until 2020. Along with this delay, the Cadillac Tax (when imposed) will be deductible.

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Information reporting deadline extended

The Internal Revenue Service (IRS) has released new guidance (Notice 2016-4) extending the deadline for health insurers, employers, and other entities to report health coverage and offers of health coverage to the IRS and to enrollees. The ACA enacted Code section 6055 requiring health insurers, employers, and other entities to report health coverage provided to [...]

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Health insurance tax suspended for one year

The ACA imposed a tax on fully insured health insurance plans. The health insurance tax, which had already been in effect, has been suspended for the 2017 calendar year with plans to resume Jan. 1, 2018.

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Medical device tax suspended for two years

The ACA imposed a 2.3% tax on medical devices. This tax, which had already been in effect, has been suspended for two years with plans to resume Jan. 1, 2018.

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“Cadillac tax” on high cost health plans takes effect in 2018

A 40 percent nondeductible excise tax will be assessed, beginning in 2018, on the cost of employer-sponsored group health coverage that exceeds a certain annual limit. The provision is often called the “Cadillac tax” because it is intended to target health plans that provide workers and retirees the most generous level of health benefits. The [...]

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