Thu April 11, 2013
Excise Tax Could Hit Sussex County Health Insurance Plans
The Sussex County Government could be hit with a $245-thousand federal excise tax on its family health insurance plans beginning in 2018 unless it cuts its insurance costs.
The County Council said it learned about the issue when briefed on the impact of the Affordable Care Act.
The Wilmington News Journal reports that county accounting director Gina Jennings said because the total premiums paid for their plan are expected to go above $27,500 per family by 2018 the federal government will impose an additional tax on those plans.
It is part of the tax on more expensive plans, which is designed to raise money for other expenditures in the Affordable Care Act, and encourage the health care industry