CFOs relieved after ACA taxes repealed: 'Most of all, what CFOs want is certainty'

Finance chiefs nationwide are closing their spreadsheets in relief after the ACA's Cadillac tax was repealed, according to The Wall Street Journal.

On Dec. 20, President Donald Trump signed a nearly $1.4 trillion spending package, which repealed three ACA taxes. One of those taxes was the Cadillac tax, which was a 40 percent excise tax on high-cost employer provided insurance plans. 

For the past decade, CFOs were trying to figure out how they would absorb the tax. CFOs attempted to adjust employee healthcare benefits to remain below a level that would have triggered the tax. Others moved to increase employees out-of-pocket contribution to their health benefits to cut coverage costs.

"Most of all, what CFOs want is certainty, and this was always looming over their heads," James Klein, president of the American Benefits Council, told The Wall Street Journal.

More articles on healthcare finance:
8 latest hospital bankruptcies
TeamHealth's ER billing scrutinized at Nashville General
Kansas hospital at risk of losing Medicare funding

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.