Freedom of Choice, Flex-Spending, and Health-Savings Accounts soon to be Things of the Past
Comment: “If you like your plan, you can keep it.”
“Workers across the country will soon learn just how big President Obama’s “keep your plan” lie was when ObamaCare costs them their beloved Flexible Spending Accounts.”
“And one of the first things to go will be FSAs. The reason is that ObamaCare inexplicably includes worker contributions to an FSA as though they were part of the premium. Let’s say an employer offers a plan with a $9,000 premium, and a worker puts $2,700 into an FSA. ObamaCare would treat that as an $11,700 premium, which means it would be subject to the Cadillac tax.
Rich Stover, a health care actuary at Buck Consultants, told Politico that if Congress doesn’t repeal the Cadillac tax, “FSAs will go away very quickly.” ”
“FSAs aren’t the only health care innovation threatened by the Cadillac tax. As IBD reported recently, increasingly popular Health Savings Accounts could be doomed, as well.”
ObamaCare ‘Cadillac Tax’ Will Cost Workers Their Flexible Spending Accounts
09/01/2015 06:41 PM ET