The GOP Has Released An ACA Replacement Outline
It feels as though Americans have been waiting with bated breath to hear the latest in the repeal and replacement of the Affordable Care Act. A replacement outline is finally here. At the close of February, Republicans in Congress offered a first outline of the replacement of the ACA with some details. This includes the repeal of any taxes imposed by the ACA (the excise tax, Medicare tax, the medical device tax, the NII tax), as well as penalties and shared responsibility payments. The plan appears to be based on House Speaker Paul Ryan’s “A Better Way” plan for healthcare reform.
In terms of ACA replacement details, among other proposals, the outline proposes Health Savings Accounts (HSAs), along with monthly tax credits. But, the outline does not identify the amounts for such HSAs and monthly tax credits. The devil could be in the details. It is unclear whether there is sufficient consensus among the Republicans as to those details.
On the other side of the aisle, Democrats have already challenged the Republican’s outline’s proposal with respect to employer-sponsored healthcare. Democratic Ways and Means Health Subcommittee ranking member Sandra Levin from Michigan referred the policies being combined as a “dangerous mix,” especially for those individuals who rely on their employer-sponsored healthcare. Democratic Ways and Means Health Subcommittee ranking member Richard Neal from Massachusetts echoed that sentiment, calling the proposed outline a “bad deal,” highlighting the value once again for employer-sponsored coverage and the taxing of employees.
To learn more about ACA compliance in 2021, click here.
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