Newsflash: Is Obamacare About to Get Trumped? - House Republicans Propose to Repeal and Replace the Affordable Care Act

March 07, 2017

Earlier this week, on March 6, 2017, House Republicans released their proposals to repeal and replace the Patient Protection and Affordable Care Act, commonly referred to as "Obamacare." The proposals would remove the existing individual and employer mandates that generally require health insurance, and that penalize individuals who do not have, and employers who do not offer, coverage meeting minimum essential health coverage requirements. The possible move to repeal and replace Obamacare is widely seen as having potential critical impact on health care in the United States, and on employers and the economy in general.

Under the proposals, the minimum essential health benefits requirement would no longer apply after December 31, 2019 and related premium tax credits would cease on the same date. The proposals would also repeal the provisions of Obamacare effective December 31, 2017 that (i) added limitations on the contributions to flexible spending accounts, (ii) increased the tax on health savings accounts from 10% to 20% and (iii) placed a tax on over-the-counter medications.

Read "Is Obamacare About to Get Trumped? - House Republicans Propose to Repeal and Replace the Affordable Care Act."