Aired 5 years ago on AM 590 The Answer 
Finance News

Listen: "Cadillac plans...that's been deferred a while"

Share this burst
Don’t miss the good stuff
Subscribe and get a weekly digest of trending moments from the radio
Photo Credits : (GettyImages)
Scott Olson
Automatic TRANSCRIPT This transcript was automatically generated by AudioBurst technologies

Years in March Larry is I'd do we all lives through if you wanna keeper doctor you can keep productive he would keep their plan you can keep plan in that As we know from millions of Americans turned out not to be the case many businesses even though not even in ObamaCare saw the rates go up this policies went away in new policies but had a Carrie a bunch of other things in a more put in place they're more expensive we we saw this story recently you talk about about thee Cadillac plans the dips spin deferred while but there's a tax it's a poster kicking in you right I did not know this is kind of a flat rate and it's very punitive interest at one line a crosses over and suddenly people a charge like forty percent explained this tax yeah well basically what the law does is it says that if in employer offer planned healthcare plan that's very generous above a certain statutory limit I forget exactly what it is but you know it's not a surprise you might expect that be employer have to say they exercised taxi pretty significant exercise attacks on Whatever value of the healthcare plan is over that threshold and so what what the taxes intended to do is keep her the generosity of benefits provided by employers know the problem is when you impose such a blank attacks regardless of whether you're imposing that tax on the CEO so or on an entry level employee you create this then As for be employer to hire an and that's one of the big problems with Obamacare in the litany of things you mentioned Larry won any other problems we see what the law is that have created the senate to offer full-time work the people at the created depressing effects of the labor markets and that's you know those some of the reasons why Obama care remains broadly unpopular and how you say about a hundred fifty five million Americans get their health insurance to their place in for Kim Obamacare certainly been a diss incentive to providing if you don't have to purchase.