Health Care Cadillac Tax Expected to Boost Voluntary Offerings

Monday, October 12, 2015

An excise tax on health plans scheduled to take effect in 2018 could mean more supplemental and voluntary benefits for employees. Greg Hammonds, senior vice president of specialty market sales, was interviewed by InsuranceNewsNet.com on The Standard's new voluntary products, and how aspects of the Affordable Care Act might affect sales in the coming years. In the article, "Health Care Cadillac Tax Expected to Boost Voluntary Offerings," Hammonds noted that rich healthcare offerings may be discouraged through the "Cadillac tax," potentially prioritizing the role voluntary products play in an employer's overall benefit offering. He advises brokers to ask whether their clients' employer-sponsored health plans meet the threshold for the tax, and discuss plan design options. (InsuranceNewsNet.com, accessed Oct. 12, 2015)