Tuesday, March 30, 2010
A Hidden Tax on Annuities Lurks in the Health Care Reform Law
The Obama administration is trying to encourage people to buy annuities to ensure that they don't outlive their savings. But a little-noticed provision of the new health care reform law will slap a 3.8% tax on payouts from annuities purchased by high-income earners outside their workplace. And, not surprisingly, the life insurance industry isn't happy about that.
Life insurers, which have sold approximately 15 million so-called "nonqualified" policies containing some $710 billion in assets, hope to get this particular provision of the Health Care and Education Reconciliation Act of 2010 repealed...
DailyFinance: A Hidden Tax on Annuities Lurks in the Health Care Reform Law
Life insurers, which have sold approximately 15 million so-called "nonqualified" policies containing some $710 billion in assets, hope to get this particular provision of the Health Care and Education Reconciliation Act of 2010 repealed...
DailyFinance: A Hidden Tax on Annuities Lurks in the Health Care Reform Law
Permalink posted by markw @ 6:06 AM 
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