Sherborn, MA – Wicked Local Sherborn
By Andy Metzger
StateHouse News Service
While the Affordable Care Act might have taken its inspiration and ideas from the groundbreaking 2006 health care reform law in Massachusetts, the Bay State will not be exempt from some of the costs associated with the federal law.
An excise tax on so-called “Cadillac” insurance plans is set to take effect in 2018 and could wind up costing middle class workers, such as small business owners, police officers and teachers, according to a study released by the Pioneer Institute on Wednesday.
“[What] ended up in the final law is less of a ‘Cadillac tax’ and more of a ‘Ford tax,’” wrote the study’s author, Josh Archambault. The federal law passed in 2010 levies a tax on sponsors of self-funded group health insurance plans and health insurance issuers that would kick in for individual plans exceeding $10,200 and family plans exceeding $27,500, the study said.
According to Pioneer, that could translate to costs of $86,905 over 10 years for a small business owner with three or more full-time employees, $53,907 for a police officer over that same time period, and $20,807 for a teacher over that period.
Read more: Study: Obamacare tax to hit middle class in Massachusetts – Sherborn, MA – Wicked Local Sherborn http://www.metrowestdailynews.com/archive/x493667441/Study-Obamacare-tax-to-hit-middle-class-in-Massachusetts#ixzz297P7cuf1