Cadillac Tax. If by 2022, the Cadillac Tax required by the Affordable Care Act is still in effect and will require additional funding of the Renton Employees’ Healthcare Plan, the parties agree to meet and negotiate changes to the plan in such a way as to address the impacts of the Cadillac Tax.
Cadillac Tax. If health insurance premiums reach 90% of the Cadillac tax threshold, the insurance committee must meet to reduce the premium. If the committee cannot agree or refuses to reduce the premium, then the Board of Education and the Association will take the necessary actions to reduce the premium to avoid the tax.
Cadillac Tax. In the event the Affordable Care Act or other state or federal legislation would imminently result in a tax upon the health insurance plan provided to the Association Members, the District and the Association agree to immediately declare the Insurance provision of this Agreement open for negotiation. In the event the District and the Association cannot reach an agreement within ninety (90) days that would result in a health care plan that has no tax implications, the District and the Association agree to submit to arbitration as permitted by the terms and conditions of this agreement so as to ensure that the health care plan has no tax implications.
Cadillac Tax. Should the city become responsible for payment of the “Cadillac tax” under the Affordable Care Act, the parties agree that the contract may be opened for negotiation of that item. The contract shall only be opened if it reasonably appears that the city will be subject to an annual tax of $76,000 or greater. This clause shall expire on June 30, 2024.
Cadillac Tax. In the event that the health coverage provided hereunder becomes subject to the excise tax on high cost employer-sponsored health coverage (known as the “Cadillac Tax”) as required under the Affordable Care Act or under an successor Act, or any third party that is subject to the Cadillac Tax passes such tax through to the Town or health plan participants by way of increased premiums, separate assessment or any other means (“Cost”), the parties hereto agree to return to the bargaining table and renegotiate the terms of Section 5 of this Article 20 to account for the impact of the Cadillac Tax within thirty (30) days of becoming aware of such Cost.
Cadillac Tax. The parties agree to work cooperatively and to negotiate in good faith to avoid the imposition of all taxes, assessments, and/or other fees (hereafter “penalties”) that may result from the implementation of the so-called “Cadillac tax” under the federal Affordable Care Act.
Cadillac Tax. A. In the event that the health benefit plan offered in accordance with this Agreement becomes subject to the excise tax on high cost health plans, the Town shall provide the Union with notice within seven (7) days of the employer becoming aware that the plan may be subject to the tax based on prospective costs exceeding the applicable dollar limit established pursuant to 26 U.S.C. § 49801. The notice will include the prospective costs of the plan(s) and be accompanied by statements from the health insurer, carrier, and/or plan actuary certifying that costs for the ensuing plan year shall exceed the applicable limit. The Employer shall promptly provide the Union with information relevant and necessary to verifying prospective plan costs subject to any restrictions under law.
Cadillac Tax. Notwithstanding anything in this Article to the contrary, if the City receives written projections from the IPBC that the City may be subject in the following plan year to an excise tax for high-cost coverage (also called the “Cadillac Tax”), pursuant to the Patient Protection and Affordable Care Act, the City shall provide such written projections to the
Cadillac Tax. The Borough shall provide the health-care insurance protection currently provided as of the date of the contract, subject to the limitations set forth herein. The Affordable Care Act (ACA) will levy excise taxes for plans over certain statutory thresholds beginning on January 1, 2020. Beginning with the 2020 plan year, and thereafter on an annual basis, the Borough will make any necessary changes to the Borough-sponsored health coverage provided to employees such that the total plan coverage cost is less than or equal to the thresholds set forth in 26 USC Section 49801 in order to avoid excise taxes or fees related to the ACA, as long as the insurance coverage provided is greater than or equal to the current insurance coverage. In the event any taxes, including excise taxes, or fees are levied on the healthcare benefits as mandated by state or Federal legislation and plan changes are not sufficient to avoid such taxes or fees, these taxes or fees shall be the responsibility of and be paid by each employee (in addition to any employee contributions required under Chapter 78). Notwithstanding Section 32 of this Agreement, if, during the term of this Agreement, any excess taxes or fees are unavoidable based on the medical insurance plan provided, either the Union or the Borough may request that the parties meet for the sole purpose of discussing alternative options for changes to medical insurance to avoid excess taxes and fees.
