budget to adjust health insurance 'Cadillac tax':
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[February 04, 2016]
WASHINGTON (Reuters) - President
Barack Obama will propose tailoring the controversial "Cadillac tax" on
expensive private health insurance plans to reflect regional differences
when he releases his 2017 budget plan next week, a senior White House
adviser said in an article released on Wednesday.
Obama's proposal would reduce the bite of the unpopular tax by
raising the threshold where it takes effect in areas where
healthcare is particularly expensive, according to the article in
the New England Journal of Medicine co-written by Jason Furman,
chairman of the White House Council of Economic Advisers. (http://bit.ly/1QdGlDG)
The tax on high-cost employer-based healthcare plans, passed as part
of the president's 2010 Affordable Care Act and set to take effect
in 2018, has generated growing opposition in part because labor
unions say it could encourage employers to cut back on health
insurance plans for workers.
The tax was expected to raise some $87 billion a year to help pay
for the reform generally known as Obamacare.
White House officials did not immediately respond to a request for
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(Reporting by Eric Walsh; Editing by Andrew Hay)
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