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.
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:
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).
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).
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%.