*Current health benefits will include health plan premium, employers contribution, HSA (employer and employees pre-tax contributions), FSA, HRA, pre-tax coverage for specific illness, Hospital indemnity or other fixed indemnity insurance, Local/Federal/ State sponsored health plan for its employees, retiree coverage, multi-employer plan, wellness programs that are group health plans, executive physical programs.
Important notes
- These thresholds will be adjusted for inflation before the tax comes into effect in 2020.
- The thresholds will be higher:
- If the majority of covered employees are engaged in specified high-risk professions such as law enforcement and construction .
- For group demographics including age and gender.
- For pre-65 retirees and individuals in high-risk professions, the threshold amounts are currently $11,850 for individual coverage and $30,950 for family coverage. These amounts will also be indexed before the tax takes effect.
- For a full list of adjustments visit the Internal Revenue Service
The calculator has been adapted from Cadillac Tax fact sheet by Cigna, 2015