Nearly 50 Million Americans Lacked Health Insurance In 2010

Nearly 50 Million Americans Lacked Health Insurance In 2010

Unemployment and an erosion in employer-provided benefits are some of the major reasons the amount of uninsured American rose to 49.9 million last year. That’s 900,000 more than in 2009, according to Census data. Gone are the days that it was a given that your workplace handed you an insurance plan. In 2000, 64.1 percent of the population were covered by employer-provided insurance, but those ranks slipped to 55.3 percent last year. [More]

Congress Considers Partially Removing Tax Exemption On Employer Provided Health Benefits

Congress Considers Partially Removing Tax Exemption On Employer Provided Health Benefits

While details of such an approach are still sketchy, it would likely involve employees paying tax on a percentage of their employer-provided health benefits. So if Congress decided that all such premiums in excess of $11,000 for family plans would be taxable income, and your company paid premiums worth $16,000 for your coverage, you’d have to pay taxes on $5,000.