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Philadelphia Business Lawyers: “Cadillac Tax” Delayed until 2020

On December 18, 2015, President Obama approved a spending and tax package that includes a two-year delay of the so-called “Cadillac Tax”. This tax will impose a forty percent excise tax group health plans to the extent their total annual premium costs exceed $10,200 for single coverage and $27,500 for family coverage. This tax is intended to motivate employers and carriers to find a way to reduce the costs of employee health coverage.

For more information, call Philadelphia business lawyers at Sidkoff, Pincus & Green at 215-574-0600 or contact us online.