Affordable Care Act – Are You Prepared for the Cadillac Tax?

Remember the Cadillac tax? When the Affordable Care Act was passed in 2010, it contained a “time bomb” in the form of a 40% excise tax on high-cost employer health plans that didn’t go into effect until 2018.

As we approach 2016, the so-called “Cadillac tax” looms much larger. Any plan changes or contribution philosophy changes need to be vetted and implemented before the end of 2017. Responsibility for calculating the tax falls on the employer. The employer must determine the share that is attributable to each coverage provider, if there is more than one. After calculating the tax and determining each coverage provider’s share, the employer must report the amount due to each coverage provider and to the Department of Treasury in a manner that will be determined by future regulatory guidance.

Presented by Cynthia Stribling, Vice President and Keenan’s Training Director, and Tom Edwards, Senior Vice President, Benefits Underwriting and Actuarial Department, this webinar is valuable to Human Resources, Finance and Business Officers, and anyone involved in health benefit programs.

Topics covered are:

Overview

  • Description of the Tax
  • Who is Impacted?
  • Timeline (2018 and beyond)
  • FSA, HSA, HRA Considerations
  • Retirees: Pre-Medicare, Medicare & Blended
  • IRS Proposed Regulations/ Guidance
  • Reporting Requirements

Planning to Mitigate Tax Liability

  • Tools
  • What Should Employers be Doing Now?
  • Multi-Year Strategy

Legislative Outlook


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