Taxing Employer Benefits. About Time ...

[Yagents]

This is one change that's LONG overdue. This will only make the individual market and exchange subsidy more attractive, and another reason for employers to get out of the health insurance business. It's about time they equalize the tax code and remove the incentives that cause insurance prices to go higher. (BTW, same with the mortgage deduction)
Tax Break For Employer Health Plans a Target Again

Associated Press
November 28, 2010

Job-based health care benefits could wind up on the chopping block if President Barack Obama and congressional Republicans get serious about cutting the deficit.
Budget proposals from leaders in both parties have urged shrinking or eliminating tax breaks that help make employer health insurance the leading source of coverage in the nation and a middle-class mainstay.
The idea isn't to just raise revenue, economists say, but finally to turn Americans into frugal health care consumers by having them face the full costs of their medical decisions.

 

[taterpeeler]

Re: Taxing Employer Benefits...bout Time

This is one change that's LONG overdue. This will only make the individual market and exchange subsidy more attractive, and another reason for employers to get out of the health insurance business. It's about time they equalize the tax code and remove the incentives that cause insurance prices to go higher. (BTW, same with the mortgage deduction)
Tax Break For Employer Health Plans a Target Again

Associated Press
November 28, 2010

Job-based health care benefits could wind up on the chopping block if President Barack Obama and congressional Republicans get serious about cutting the deficit.
Budget proposals from leaders in both parties have urged shrinking or eliminating tax breaks that help make employer health insurance the leading source of coverage in the nation and a middle-class mainstay.
The idea isn't to just raise revenue, economists say, but finally to turn Americans into frugal health care consumers by having them face the full costs of their medical decisions.

Hi yagents... real quick question.... do you by chance own a home or do you rent?

 

[Yagents]

Re: Taxing Employer Benefits...bout Time

Still own a home. But, it's in exchange for lower income tax rates. Real estate hurt me bad, and believe part of the distortion was mortgage tax deduction, in addition to bad underwriting, and option type loans. Underwriting is fixed, option loans are gone, now it's time to remove the last distortion so prices reflect value accurately. It will create an incentive for people to delever, not increase leverage that got us in this mess. If done correctly, my kids won't be overpaying for a home in the future, nor be subject to the pain we all experienced..

 

[ABC]

Re: Taxing Employer Benefits...bout Time

Yagent,
How clueless are you? Maybe change your handle to clueless agent.

Take a way the tax break on an employer group health plan and employers will drop the coverage. Does your dumb ass want to pay taxes on a health benefit from your employer?
How great would it be if that health benefit was itemized as ordinary income?

Your like a child wondering into a room with no reference to the conversation that is going on.


Yagent what is it that you sell?

This is one change that's LONG overdue. This will only make the individual market and exchange subsidy more attractive, and another reason for employers to get out of the health insurance business. It's about time they equalize the tax code and remove the incentives that cause insurance prices to go higher. (BTW, same with the mortgage deduction)
Tax Break For Employer Health Plans a Target Again

Associated Press
November 28, 2010

Job-based health care benefits could wind up on the chopping block if President Barack Obama and congressional Republicans get serious about cutting the deficit.
Budget proposals from leaders in both parties have urged shrinking or eliminating tax breaks that help make employer health insurance the leading source of coverage in the nation and a middle-class mainstay.
The idea isn't to just raise revenue, economists say, but finally to turn Americans into frugal health care consumers by having them face the full costs of their medical decisions.

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If you are unable to make sound decision for yourself how is it that you can advise a client on the best option for them?

Still own a home. But, it's in exchange for lower income tax rates. Real estate hurt me bad, and believe part of the distortion was mortgage tax deduction, in addition to bad underwriting, and option type loans. Underwriting is fixed, option loans are gone, now it's time to remove the last distortion so prices reflect value accurately. It will create an incentive for people to delever, not increase leverage that got us in this mess. If done correctly, my kids won't be overpaying for a home in the future, nor be subject to the pain we all experienced..

 

[stuy119]

Re: Taxing Employer Benefits...bout Time

And this will again drive up the numbers of uninsured, making the CBO projections useless - again. I'm surprised that Republicans are going for this, considering the giant amount that businesses save by paying for benefits vs. salary increases.

 

[Yagents]

Re: Taxing Employer Benefits...bout Time

ABC: It's called basic economics. tax free employer benefits is one major reason we're in this position. Or, allow everyone to deduct their insurance, to equal the playing field for ind ins. I sell mainly IM.

I'd rather have a reduced income tax rate of 23% vs 36+% so I can make unlimited income vs a $10,000 benefit tax deduction. Same with mortgage. How many people would put down more money on a home, or borrow less on the home if the tax deduction didn't factor into buyer's decision? Social distortion!

You must be a democrat. Feeling a bit "entitled" lately?
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Yagent,
Does your dumb ass want to pay taxes on a health benefit from your employer?
How great would it be if that health benefit was itemized as ordinary income?

Yes, benefits are in LIEU of a higher salary.

Yes, I think every company should get out of the health insurance business, so they can concentrate on their widget/service.

Yes, I think people can make better capital allocations for themselves with a higher salary.

 

[ABC]

Re: Taxing Employer Benefits...bout Time

Yagent you make no sense.

 

[VolAgent]

Re: Taxing Employer Benefits...bout Time

Yes, benefits are in LIEU of a higher salary.

Yes, I think every company should get out of the health insurance business, so they can concentrate on their widget/service.

Yes, I think people can make better capital allocations for themselves with a higher salary.

You assume that employers will pass on the savings in benefit costs as salary to employees. I believe you assume too much. Many employees are just grateful to have a job, and employers know it. Don't be surprised when most drop health insurance and pocket the savings.

Yes, health insurance started as a way for employers to get around wage limits during WWII, but to assume that employers will now spend the same money in salary is a dangerous one.

 

[dgoldenz]

Re: Taxing Employer Benefits...bout Time

Yagent,
How clueless are you? Maybe change your handle to clueless agent.

Take a way the tax break on an employer group health plan and employers will drop the coverage. Does your dumb ass want to pay taxes on a health benefit from your employer?
How great would it be if that health benefit was itemized as ordinary income?

Your like a child wondering into a room with no reference to the conversation that is going on.


Yagent what is it that you sell?

Correct me if I'm wrong, but I thought most agents here are self-employed...and if you sell individual health, employers dropping their plans is a good thing since you have potentially more prospects/clients. If you sell group health, that's a different story.

 

[arnguy]

Re: Taxing Employer Benefits...bout Time

Yagents sounds like a pinko commie!