GET INVOLVED



Email     Print

Baucus Healthcare Bill Violates Obama Tax Pledge

At least five tax hikes in the bill violate Obama’s central campaign promise not to raise “any form” of taxes on families making less than $250,000

The healthcare reform plan unveiled today by Senate Finance Committee Chairman Max Baucus (D-Mont.) contains at least five tax increases on families making less than $250,000 per year. Each provision would violate President Obama’s central campaign promise not to raise “any form” of taxes on these Americans. The tax increases include:

Individual Mandate Tax:  Those who do not enroll in a health insurance plan would have to pay a new tax in the following range: 

 
Single
Family
100-300% FPL
$750
$1500
300+% FPL
$900
$3800

Medicine Cabinet Tax:  Americans will no longer be able to purchase over-the-counter medicines with their FSA, HSA, or HRA.
 
Backdoor Death of HSAs: By requiring that all plans (besides the few that are grandfathered) provide first-dollar coverage for most services, there would be no HSA-qualifying plans available from the Massachusetts-style exchanges.
 
Increase in Non-Qualified HSA Distribution Tax Penalty from 10 percent to 20 percent: This makes HSAs less attractive, and paves the way for HSA pre-verification.
 
A Cap on FSA Contributions at $2000: Currently unlimited.

 

To follow John Kartch's RSS feed click here. To follow them on Twitter, their handle is @johnkartch

blog comments powered by Disqus
Designed and Developed by Braynard Group, Inc.
hidden