Congressional Republicans unveiled yesterday their sweeping counter-approach to 2010's Affordable Care Act (ACA). The GOP concept appears to presume a complete repeal of the ACA, including its individual and employer mandates and the widely vilified excise tax on high-value health coverage (the so-called "Cadillac Tax") that Congress recently delayed two years, to 2020.
Perhaps to partly offset the loss of tax revenue the Cadillac Tax was expected to generate, the GOP plan would treat the value of employer-provided health insurance as a taxable fringe benefit once the value of the coverage exceeds a yet-to-be-described cap.
In particularly welcome news, the GOP plan would unwind legislatively the Equal Employment Opportunity Commission's new and complex regulations relating to
workplace wellness programs. A recent Lockton Alert and webcast summarized those
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