National Association of Insurance and Financial Advisors

"Cadillac Tax" Repeal Letter Garners Support of more than 1,000 Stakeholders including NAIFA

NAIFA  signed on to a broad stakeholder letter to repeal the “Cadillac Tax.” These signatures represent large corporations and small companies, nonprofits, labor unions, cancer and patient groups, and state/local groups who share the concern that the “Cadillac Tax” is forcing them to increase deductibles and cut health care at rates that hurt workers and their families leaving them vulnerable to untenable health care costs.

"While this tax was intended to only hit Americans with 'gold-plated' plans, the reality is that very modest plans covering low-and moderate-income working families are projected to trigger the tax simply because they incur greater health expenses," the letter says. "The tax will disproportionately affect the health plans of women, seniors, rural communities, the sick, and the disabled. Small businesses that already struggle to offer health care coverage will also be heavily penalized. This tax has real and harmful consequences – Americans cannot afford to pay more for their health care."

"Discouraging top-notch benefits for American workers and their families is not an acceptable way for the government to raise revenue," NAIFA CEO Kevin Mayeux said in a previous statement on the tax. "We are talking about health insurance that provides protection and security for American families, not luxury automobiles."
  • Posted December 6, 2019 IN


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