The ERISA Industry Committee will continue to work for repeal of the excise tax
For Immediate Release
Washington, DC – The following statement should be attributed to Annette Guarisco Fildes, president and CEO, The ERISA Industry Committee (ERIC):
“As the only national trade association advocating solely for the employee benefit and compensation interests of the country’s largest employers, ERIC is dedicated to working with lawmakers to remove the burdensome and crippling effects of the 40 percent excise tax. While we did not expect the President to follow Congress’s lead, we are hopeful that this year will see further legislative efforts to repeal the excise tax, as well as eliminate the employer mandate and related burdensome reporting requirements.
The excise tax creates unprecedented administrative complexities and challenges on employers and is imposed based on factors outside of an employer’s control, such as industry, where employees live, their age, and gender. The tax creates a disincentive for employers to drive health care improvements and innovations such as wellness plans and onsite clinics, and does nothing to reduce the cost of health care.”