Cutting Health Benefits to Avoid an Excise Tax : 63% of companies surveyed would pare plans in response to Senate scheme

Treasury and Risk reports:

An excise tax on generous employee health benefits, like the one proposed in the Senate’s version of healthcare reform, would spur many companies to downsize their health plans, according to a survey of 465 companies conducted by Mercer.

Sixty-three percent say they would reduce the cost of their healthcare packages to below the level that would trigger the excise tax, while 23% say they would share the cost of the tax with their employees. Another 7% say they would terminate their plan.

Remember when Obama said if you like your current health plan nothing would change?