A bill to amend the Internal Revenue Code of 1954 to limit the business deduction available for health insurance premiums.

Summary

Amends the Internal Revenue Code to disallow the income tax deduction for costs incurred by an employer for insurance covering inpatient hospital care for their employees, unless the insurance contract requires each beneficiary to obtain insurance for at least 25 percent of the cost of inpatient hospital care. Limits the responsibility of the beneficiary to the lesser of $2,000 or 15 percent of the beneficiary's adjusted gross income for the three previous taxable years. Exempts from the limitations imposed by this Act contracts in effect at the time of the enactment of this Act and contracts which were part of a collective bargaining agreement in effect at that time.

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Documents

1 official file

• Introduced in House

  summary · EN · 4 May 1979

  Open at official source

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