Health Cost Containment Tax Act of 1983

Health Cost Containment Tax Act of 1983 - Amends the Internal Revenue Code to include in the gross income of an employee any employer contribution to the employee's health plan which exceeds $70 per month ($175 per month for employees with family coverage), beginning in 1984. Provides for a cost of living adjustment to allowable contribution amounts for calendar years after 1984. Treats an employee as having individual coverage unless the employee has a spouse or a dependent who is covered under the plan.

Provides that the employer contribution to a health plan will be the cost of coverage of the employee under the plan reduced by the amount of the employee's contributions for such coverage. Specifies rules which must be used to calculate the annual cost of providing coverage for an employee. Excludes any cost allocable to workmen's compensation or to a purpose other than providing medical care for purposes of determining cost of coverage under the plan.