I like to check around with other industries as well as this conversations has been brought up a few times here. Does UPS, does Fedex medical support qualify for the 2018 Luxury Tax? We know that value is set at 27.5K and will be adjusted for inflation, any value above that and your employer pays a tax of 50 cents on the dollar.
Many companies across the country the past few years have seen skyrocketing deductibles because companies point to and state they are doing this in lieu of the upcoming tax. We know UPS being union isn't having this issue, but at the same time, you believed (the consensus) that your medical value will be below this threshold and not affected, however from other articles Union Medical was a center point of plans that just might. We know your medical plan is far better than Fedex's (and my own), Fedex is one company from reading here that took a deductible increase due to fear of this new tax in a few years.
My company used that as well, and my deductible went up some. 12 DD on my W2 states (rounded) 17.5K, well under the cadillac threshold, which to me seems they were feeding me a bit of lip service. I just like to know the facts as well as I can, my employer would never tell me the plans worth, but now this is the first year in which that value must show on a W2. So I guess the secret is out...
So what is UPS's and Fedex's 12DD amounts looking like?
Reference:
http://www.forbes.com/sites/kellyph...-for-health-care-confusing-taxpayers-already/
Many companies across the country the past few years have seen skyrocketing deductibles because companies point to and state they are doing this in lieu of the upcoming tax. We know UPS being union isn't having this issue, but at the same time, you believed (the consensus) that your medical value will be below this threshold and not affected, however from other articles Union Medical was a center point of plans that just might. We know your medical plan is far better than Fedex's (and my own), Fedex is one company from reading here that took a deductible increase due to fear of this new tax in a few years.
My company used that as well, and my deductible went up some. 12 DD on my W2 states (rounded) 17.5K, well under the cadillac threshold, which to me seems they were feeding me a bit of lip service. I just like to know the facts as well as I can, my employer would never tell me the plans worth, but now this is the first year in which that value must show on a W2. So I guess the secret is out...
So what is UPS's and Fedex's 12DD amounts looking like?
Reference:
http://www.forbes.com/sites/kellyph...-for-health-care-confusing-taxpayers-already/
