Since September 2015, ECFC has been leading the charge against the Cadillac tax as the proposed 40 percent excise will be levied against company provided health benefits that exceed $10,200 for singles and $27,500 for families. If not reformed or repealed, the Cadillac tax will negatively affect millions of Americans.
As part of ECFC’s ‘My Money, My Health’ campaign, the organization is relying on the American public, especially those who have employer-sponsored consumer-directed health plans, to get involved in the large scale effort to repeal or reform the Cadillac Tax. According to www.mymoneymyhealth.org:
“My Money, My Health” is a campaign dedicated to ensuring employee contributions to their Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are protected from the looming Cadillac Tax. The tax should be repealed in full. However, in order to provide immediate relief to the 50 million Americans currently relying on FSAs and HSAs to make their health care affordable, Congress should at least exempt individuals’ contributions to HSAs and FSAs from the tax’s calculation.
Without this fix to the current structure of the Cadillac Tax, middle class families will face an immediate and devastating impact in a way that was never intended.
With only two months left before Congress goes on summer recess, ECFC urges people to take action in one of three ways:
- Share your story via text, photo, or video about how FSAs or HSAs help you manage your healthcare expenses.
- Write your elected officials to help protect FSA and HSA contributions from the Cadillac Tax
- Tweet your legislators asking them to support #mymoneymyhealth
Let your voice be heard today!
DataPath, Inc. is a proud member of ECFC and fully supports this initiative. ECFC is a nonprofit organization dedicated to the advocacy, education, advancement, and innovation of tax-advantaged benefit programs that facilitate choice for employers and their employees. Learn more about ECFC.