The excise tax on so-called Cadillac plans is a central feature of the Senate Finance Committee's health bill. Most often, Cadillac plans are described as the "overly generous" or "gold-plated" plans offered to Goldman Sachs employees and other Wall Street types. The idea is that levying a tax on these gold-plated plans will encourage lower spending and help slow the growth rate of health insurance and health care costs.
Op-ed by Robin Baker in Denver Business Journal. First paragraph: I enjoyed reading reporter Bob Mook’s article, “Off-cycle renewals may skirt health law” in the Aug. 1, 2008, edition. The concerns of health insurers regarding the new law created by HB 1355 were well-represented, as were some of Insurance Commissioner Marcy Morrison’s. There are larger aspects to this issue, however.