Do You Understand the ‘Cadillac Tax’?

REBC, RHU, ChFC, CLU
The Cadillac Tax could be onerous. It’s important to understand and prepare for it early to avoid unnecessary expenses.
The tax applies to benefits exceeding $10,200 for individuals and $27,500 for families beginning in 2018. It includes traditional health insurance as well as other benefits, including supplemental insurance plans, flexible spending accounts and, potentially, on-site clinics. If triggered, the tax levies a 40% penalty.
Say a company offers insurance worth $11,000 in 2018. The…
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