"The High Cost Plan Excise Tax, which is often referred to as the 'Cadillac Tax' is one of the revenue raising provisions in the 2010 Patient Protection and Affordable Care Act. The excise tax is calculated by comparing the cost of an employer-sponsored plan (which includes premiums paid by the employer and/or employee as well as any contributions into health accounts such as health savings accounts of flex savings accounts) to a benchmark, which will be adjusted every year based on the Consumer Product Index (CPI). Any amount above the benchmark is taxed at 40 percent; this tax is levied on the health insurance company but is generally understood to be passed onto the consumer, or firm purchasing that plan."
"The IRS has put a top official in charge of implementing Obamacare on administrative leave after it was discovered he had accepted $1,162 in free food and other items during a 2010 conference. In a statement, the IRS confirmed that two employees have been placed on administrative leave — which is paid — and have begun the process of removing them."
"Reps. Randy Forbes (R-Va.) and Tom Price (R-Ga.) said their bills are needed in the wake of the IRS's confirmation that it applied extra scrutiny to conservative groups seeking tax-exempt status. Forbes called that a form of "bullying" by the IRS, and said it's a reason why Congress should approve his bill, which would prohibit the hiring of any new IRS officials to implement ObamaCare."
"Following recent revelations that agents in multiple IRS offices, including tax officials in Washington, targeted conservative groups for extra scrutiny, a number of former and current Republican legislators are already counseling caution about the agency's role in administering the law. Concerns about the agency’s oversight of the health law are well-founded—and not only because of general concerns about the agency’s judgment."
"In the wake of running disclosures of the agency’s nefarious snooping and political targeting, its new role as chief health insurance enforcer should give us heartburn. Under Obamacare, the principal responsibility for verifying eligibility for the healthcare program, and monitoring whether you carry qualifying health coverage (and are exempt from the law’s penalties) will fall principally to the IRS."
"Groups on both sides of the healthcare debate are lobbying Congress to scale back a tax in President Obama's healthcare law that could end up costing the states billions of dollars. Supporters and opponents of the healthcare law are both eyeing changes to the law's tax on insurance plans, which could cost the states nearly $15 billion."
"Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don't accurately project their income... What happens if you or your spouse gets a raise and your family income goes up in 2014? You could end up with a bigger subsidy than you are entitled to. If that happens, the law says you have to pay back at least part of the money when you file your tax return in the spring of 2015."
"A new GOP bill would require health insurance companies to describe their tax burden under healthcare reform to consumers in annual statements. Rep. Greg Walden (R-Ore.), a critic of the Affordable Care Act, said the measure would inform patients about the law's "nearly trillion dollars in taxes" and how they might affect premiums. 'If the federal government is going to play such a big role in our healthcare going forward, we have the right to know just how much it costs us,' Walden said in a statement."
"Pet owners listen up: You may want to start saving more money for veterinarian care this year. The reason goes all the way back to Washington and an unintended consequence from medical reform."