Omnibus spending bill to delay ACA Excise tax by 2 years
2009 page omnibus spending bill has some good news on healthcare costs
Congressional leaders agreed late last night, Tuesday, December 15, on an omnibus spending package for the balance of the 2016 fiscal year. While the 2009 page agreement includes various tax issues important to many employers such as making permanent R&D tax credits & Section 179 expensing, the inclusion of a provision to delay the ACA Excise tax (“Cadillac Tax”) for two (2) years as well as a two (2) year moratorium on the medical device tax is welcome news to those with high-value health insurance plans.
While the bill still requires approval later this week, that is largely expected to be a formality given the agreement by Congressional leaders.
So, while many of you are seeing larger increases with your health insurance renewals than the last several years, this will delay the looming tax bill for 2018 & beyond for at least two years.
If you have any questions about the pending Cadillac Tax contact one of our consultants and we’ll gladly help.