iStock_000047393366_Full4 ways Companies May Adjust to Looming Employee Benefits Tax

The taxman is coming to employer-sponsored health insurance, and his visit may trigger changes to your benefits.

The health care overhaul calls for a 40 percent tax starting in 2018 on the value of employer-sponsored coverage that costs more than $10,200 for single plans and $27,500 for family insurance. Employers are working to avoid this tax by cutting costs that have been rising for several years.

As a result, your boss may unveil some adjustments to benefits later this fall during the annual open enrollment period, a time when workers can review and change coverage for the next year. Benefits consultant Mercer found that more than half of the roughly 1,200 employers who responded to its survey expect to make some changes to coverage in 2016.

SOURCE: dallasnews.com

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October 20, 2015 in News