By Robin Baker

The excise tax on so-called “Cadillac” plans is a central feature of the Senate Finance Committee's health proposal. Most often, Cadillac plans are described as the "overly generous" or "gold-plated" plans offered to Wall Street types.

In theory, levying a tax on these gold-plated plans will encourage lower spending and help slow the growth rate of health insurance and health care costs.

In addition, the revenue generated from the tax on insurers would provide a significant source of funding for subsidies to help families with low to moderate incomes afford health insurance. The Congressional Budget Office (CBO) estimates revenues will be about $5 billion in 2013 and increase to $53 billion by 2019.

Click here to view full op-ed.