Some employers may want to redesign their benefits packages to ward off a coming tax on high-cost health plans.
Analysts at Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM), discuss the new 40% excise tax on high-cost health plans in a guide to the Affordable Care Act (ACA), the health system change legislation that includes the Patient Protection and Affordable Care Act (PPACA).
One ACA provision will provide tax credits for small businesses that offer health insurance, and another will put limits on how much employees cannot contribute to flexible spending accounts, the analysts say.