National Association of Insurance and Financial Advisors

NAIFA CEO Comments on House Vote to Repeal the Cadillac Tax

NAIFA CEO Kevin Mayeux issued the following statement:

Government policies should encourage employers to offer workplace benefits, not penalize them for doing so. A 40% excise tax, the so-called “Cadillac tax” levied on companies offering high-quality health insurance, is a punitive measure against employers trying to do right by their employees.
 
The National Association of Insurance and Financial Advisors is pleased that yesterday the House of Representatives voted overwhelmingly, 419 to 6, to permanently repeal the tax. Congress had delayed implementation of the tax twice previously.
 
The tax would not just target “relatively well-to-do households,” as proponents including the Washington Post editorial staff have argued, but would also unfairly impact employers who provide coverage for workers or workers’ family members needing costly treatments for chronic or acute illnesses. Companies employing higher numbers of older workers or women could also be disproportionately affected.
 
Discouraging top-notch benefits for American workers and their families is not an acceptable way for the government to raise revenue. We are talking about health insurance that provides protection and security for American families, not luxury automobiles. Members of the U.S. Senate now have an opportunity to follow up the House action and get rid of the Cadillac tax once and for all. They should do so.
  • Posted July 18, 2019 IN


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