The Obamacare “Cadillac tax” has nothing to do with cars. It will eliminate the biggest — but probably least-known — tax break Americans get today.
For decades, workers have enjoyed health insurance benefits through work without paying taxes on them. The Cadillac tax will change that. It will impose a 40% tax on work health insurance above a certain value–the good plans considered the “Cadillacs” of health insurance.
Already, some employers are dropping work insurance in anticipation of the tax. Others are reducing the plans they offer so they are of less taxable value: that means they’re being replaced with plans that have higher deductibles and premiums for less coverage.
Sunday on Full Measure, we’ll explore the selling of Obamacare and the Cadillac tax. Citizen journalist Rich Weinstein found White House advisers, called Obamacare “architects,” confessing in videos posted on the Internet that the public had to be hoodwinked to be sold on Obamacare and the new tax. It turns out the President had to be convinced, too. We’ll hear from the advisers in their own words.
[ilink url=””https://fullmeasure.news/coming-up/next-week”” style=”tick”]Watch a preview of Obamacare Cadillac tax report[/ilink]
Also this week, we go back to “Jihad Central”: the neighborhood of Molenbeek in Belgium from which more Islamic extremist terrorists have sprung than anywhere else in Europe. When our reporter Scott Thuman was there three months ago, people warned that if the enclave remained isolated, there would be more trouble. They were right. The most recent suspect in the Paris bombings was arrested there in the past week. And Molenbeek has been linked to the new Belgium attack. On the positive side, we’ll talk to one former special ops general who says the U.S. is safer than Europe.
Last week: we reported on the large influx of Cubans through the Mexican border: over 60,000 in the past 17 months; and we explored how Mexican drug cartels control parts of U.S. border towns.
When are you going to broadcast in the Bay Area (California)?
As a parent and raising three children, we payed roughly 750,000 over 32 years in healthcare premiums and co-pays and deductibles. We did not get a tax break for paying our own insurance. We did not get a tax break for paying outrageous costs for subpar healthcare and the fear that it could be cancelled. We owned our own business and had to search for healthcare and always feared being denied. Five people and only three hospital stays which were for the birth of our children. I understand what you are saying in your piece on the cadillac tax, but we have been paying it for years. I don’t know the answer, but when friends complain about how high their deductibles are and tell me, it is all I can do to not laugh. We have been paying for years with no bargaining power with the insurance companies. Some one needs to come up with a solution, but I am tired of paying high premiums to subsidize those without insurance or those that get a nice break on their healthcare costs.
Keep up the good work Sharyl!