After a month of closed-door meetings, Senate Republicans emerged last week with a bill to repeal and replace the Affordable Care Act. The legislation, introduced as The Better Care Reconciliation Act of 2017 (BCRA), is the Senate’s answer to the American Health Care Act (H.R. 1628), which the House of Representatives passed on May 4. The Senate bill preserves much of the House’s work while making some key changes that could influence the federal budget and the legislation’s overall chances of passage. For small businesses, the national discussion on health care policy has brought much uncertainty. Any changes will have a big impact on the realm of employee benefits.
Much has been said about the passage of the American Health Care Act (AHCA) by the House of Representatives in May. The Republican-sponsored legislation is the first successful attempt to repeal and replace the Affordable Care Act (ACA), and though it faces considerable scrutiny in the Senate, it signals a desire among many for significant change in U.S. health care policy. While the Congressional Budget Office (CBO) score on the AHCA discusses the impact of the legislation on the federal budget, the bill’s tax impact on individuals and small businesses—as well as those who advise them—has gone largely unexamined. Because the AHCA is a budget reconciliation bill (legislation that focuses solely on budgetary concerns), it contains many provisions that affect the tax status of these groups. It also raises several questions on IRS reporting requirements going forward.
As the Senate gets ready to consider the American Health Care Act, refresh your memory on how the bill is different from the Affordable Care Act. See what would change and what would stay the same. Use our infographic to learn the ins and outs of the proposed health reform legislation.
The House of Representatives took the first step last week toward attaining a long-desired goal—the repeal and replacement of the Affordable Care Act (ACA). The American Health Care Act (AHCA) (H.R. 1628) passed the House on May 4, 2017, in a 217–213 party-line vote. The Republican-sponsored bill removes many of the tenets of the ACA and implements funding changes to premium tax credits and the Medicaid program, among other health care provisions. U.S. small business owners have largely supported efforts to amend the ACA, and the AHCA—if passed—would bring several changes to the small business community. In this post, we’ll cover the history of the AHCA, its major provisions, what must happen to make it law, and how its passage would affect small businesses.
Despite the political climate, premium tax credits (sometimes called subsidies) are still available to individuals who don’t receive health insurance through their company or a federal program like Medicaid or Medicare.
Recent health-care reform initiatives, including the passage of the 21st Century Cures Act in December 2016, have ushered in significant changes that will affect the health insurance industry through 2017 and beyond. One of the new changes includes updates to Health Reimbursement Arrangements (HRAs), one of the best ways for small businesses to offer health benefits to their employees. Here are four things to know about HRAs and changes in health law for 2017.
An analysis of individual and family health insurance policies available in 2017 reveals that costs have increased across the board from 2016. eHealth, the nation’s largest private online health insurance exchange, released its latest Health Insurance Price Index report on January 13. It looked at the average health insurance premium cost for individual and family policies during the first two months of this year's open enrollment period.
Millions of Americans have already made their individual health insurance selections for 2017 through the Affordable Care Act (ACA). But some are still wavering between plans or are suddenly realizing their plan doesn’t include their preferred doctors and prescriptions. If you haven’t made your final decisions for the year, don’t worry, there is still time—but the deadline is fast approaching.
With the rising cost of health insurance comes another concern that has historically received far less attention. The most recent Biennial Health Insurance Survey conducted by the Commonwealth Fund indicates that the number of Americans who are underinsured is increasing. Not only is this causing people to endure a higher burden of medical expenses, but it means that people are opting out of medical care in order to save money—which could have dangerous (and costly) consequences.
Effective September 6, 2016, the Department of Health and Human Services (HHS) has increased monetary penalties for violating HIPAA regulations. If your small business reimburses employees' health insurance, it’s important to remember that you are subject to HIPAA laws and any subsequent fines for being noncompliant. Here’s what you need to know about the recent penalty increases.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.