I earn some $300,000 annually and I also enjoy a great health plan given by my employer. How will this be affected by the health care bill?


Those who belong to the high-income bracket will be charged with higher taxes for Medicare payroll tax. This tax will be up from 1.45% to up to 2.35% of one's income (if individual) or 2.35% if reported as your earnings as a couple.

The same goes for those who enjoy what are called "Cadillac" health plans, or plans that are on the upper end of the products spectrum. They will also have to pay 40% on excise taxes for premiums that exceed the specified maximum allowance given for health insurance premiums. The maximum limit is $10,200 for individual plans and $27,500 for family plans.

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