As a result of last-minute negotiations by both political parties, billions of dollars of tax breaks have been thrown into the budget bill that was passed by both the House and the Senate on Friday, December 18. President Obama signed the bill the same afternoon. One such break is a two-year delay of the "Cadillac tax", a tax which would have affected over half the group health plans in the country, beginning 1/1/2018, by imposing a 40% nondeductible tax on insurers and employers.
The two-year delay (until 1/1/2020) gives employers much-needed breathing room from this aspect of the Affordable Care Act.
The bill also delays the tax on medical device manufacturers for two years.
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