Frist: limit tax exclusion for employer-based coverage.(On The Hill)(Bill Frist)
Publication: Medicine & Health
Publication Date: 19-JUL-04
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Senate Majority Leader Bill Frist (R-TN) wants to cap the value of employer-based health coverage that employees can exclude from their taxable incomes.
In a July 12 speech, Frist said the current unlimited exclusion gives Americans covered through their jobs "a huge tax advantage that people who buy insurance through the individual marketplace don't have." He also proposed allowing people who buy individual coverage to fully deduct their premiums from taxable income. "What this will do is replace the current inflationary and regressive tax code...
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