Tag Archives: Health Care Reform

This week in the “American Health Care Act”

obamacare with cancel cirle over it

The administration has laid out a three pronged approach.  The first step is “Repeal and Replace ObamaCare” (which looks a lot more like “repairing” – which is probably good).  This would involve eliminating individual and employer mandates, unburdening the tax load placed by the ACA, revitalizing Medicaid, and expanding Health Savings Accounts.

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So what is the “American Health Plan” from the house?

paul ryan american health care plan

Thanks to Keith Zuckerman from PGP for this:

Below are comments from our government affairs people at NAHU plus a very good summary of the new bill House GOP’ers put forth yesterday.  Keep in mind that this has a long way to go to become law and we will keep you apprised of future developments.  Some of the highlights are:

  • Employer Mandate.  The employer mandate would be eliminated as of January 1, 2016.  As a result, employers could still be liable for ACA penalties for 2015.
  • Employer Reporting.

o   Beginning for the year 2020, the Form W-2 would be required to indicate whether an employee was eligible for employer-provided coverage that disqualified the employee from the new individual tax credit (discussed below).

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Insurers to leave ObamaCare if no clear pathway

image of nurse with obamacare logo

Health insurers want to see how Congress intends to replace Obamacare before they commit to offering policies for 2018, a new survey has found.

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The Collapse Of ObamaCare

Obamacare

On November 7, 1940, Gallopin’ Gertie collapsed.  If you are not familiar with the story, there is a great video clip of the failure in Tacoma, Washington.  The bridge was only open for 130 days.  “From the time the deck was built, it began to move vertically in windy conditions.  Despite numerous warnings,  officials decided to open the bridge anyway.  In a 40 mph wind storm the bridge collapsed after a dramatic period of enormous up and down movement (seriously, if you have not seen the video, its worth the watch).

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Do you allow your employees to waive coverage? Read this!

In Notice 2015-87, the IRS addressed the impact of employer opt-out payments — payments made to employees who decline enrollment in an employer’s group health plan — on affordability for ACA purposes. Employers who do not offer group health coverage that is affordable as defined under the ACA risk significant penalties. For 2016, group health coverage is considered affordable if the employee’s cost for the least expensive self-only coverage under the plan does not exceed 9.66% of the employee’s annual household income. For 2017, the percentage increases to 9.69%.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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