You are probably aware there is a cap on employer provided life insurance. Many companies routinely offer term insurance at 3 or 4 years gross pay.Around 1985, the feds capped the amount of insurance they could offer at something like $50K. If you got more than that, the excess premium was added to your W-2 and taxed as income.The reporting you describe appears to be Congress collecting data. That will let them estimate the amount of revenue various caps on medical insurance will generate.Capping health insurance plans so people who use the services pay deductibles or copays is one way to discourage growth in health care costs.And of course people who like their health insurance as it is and do not want to give it up is one group that opposes changes. But that system is headed for bankruptcy. It has to change--ideally not abruptly, but change it must.
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