From the NY Post:The city’s generous health-care benefits for municipal workers might qualify as costly “Cadillac plans” that get socked with significant financial penalties under ObamaCare, Mayor Bloomberg’s budget director warned yesterday.
Councilman Jimmy Oddo (R-SI) raised the potentially explosive possibility during a routine budget hearing.
“It would mean the city would get a 40 percent excise tax,” Oddo pointed out.
When he asked Budget Director Mark Page if that was a concern, he got a one-word reply: “Yes.”
Employers who spend more than $10,200 a year on health insurance for an individual employee or $27,500 for a family would start getting penalized in 2018. The tax is aimed at prodding employers to eliminate bloated medical-insurance costs.
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