News & Events

Repeal of the Affordable Care Act

Richard Healy

On May 4, 2017, the US House of Representatives passed the American Health Care Act (AHCA) in an effort to repeal and replace the Affordable Care Act (ACA aka Obamacare). The Act passed in the House by a vote of 217-213. AHCA repeals penalties associated with the ACA’s individual and employer mandates, the health insurance tax on insurers, and the health FSA employee contribution limits, which allows reimbursements from HSAs, FSAs, and HRAs for over-the-counter (non-prescription) medication. It also delays the Cadillac tax until 2026 and creates new, refundable tax credits (based on age) as a
replacement for the ACA’s premium tax credit system.

The plan keeps certain ACA provisions that are largely popular. Specifically, provisions that are kept include:

  • Children may remain on parents’ policies until age 26
  • Annual and lifetime limits are prohibited
  • Out-of-pocket maximums are prohibited
  • Requires insurers to continue to offer coverage to those with pre-existing conditions
  • However, the AHCA would allow insurers to charge higher premiums (up to 30% more) to those with pre-existing conditions who allow their coverage to lapse for more than 63 days.

It’s hard to know the future of the AHCA, as the bill will now go to the Senate. Democrats and Independents are clear that they will not support the repeal. Republicans currently hold 52 Senate seats. Therefore, the Republicans cannot afford to lose more than two votes from Republicans who may not be in favor of the AHCA. The Senate could also make adjustments to the to the current provisions in an effort to help encourage passage.

Until the President signs the bill into law, the status quo remains. This means employers need to continue their compliance efforts which include employer mandates and associated reporting.

Donnelly-Boland and Associates will continue to strive to keep you abreast of changes as they occur. Also feel free to contact our Human Resource professionals with any additional questions.

 

 


Upcoming Social Security & QuickBooks Seminars

Donnelly-Boland would like to cordially invite you to two seminars in May. The first is a Social Security seminar aimed at helping you understand the implications and options for maximizing your Social Security. If you are nearing retirement age (or have family members who are), this seminar could be of great help.

Our second seminar in May is a QuickBooks seminar - it is intended for those who currently use or are thinking about using QuickBooks to handle the bookkeeping of a business. The material will cover payroll services and quarterly taxes being processed through the QuickBooks software.

More information on both events is below:

Social Security Seminar

Featuring:

Elaine Cole, Public Affairs Specialist
Social Security Administration

When:
Tuesday, May 16th
4:30 - 5:30pm

Location:
Brentwood Library
3501 Brownsville Rd
Pittsburgh

 

 

Refreshments will be provided

 

 Please RSVP by May 12th to Christine Crompton (CommunityService@johnfslater.com) or by calling 412-881-9022

Be on the lookout for the other three parts of this seminar series.

QuickBooks Seminar

Featuring:

Todd Falcone, MSA, CFE, Controller External
Advanced QuickBooks ProAdvisor

When:
Wednesday, May 31st
4:30 - 5:30pm

Location:
2801 Custer Avenue
Pittsburgh, PA 15227

 

 

Refreshments will be provided

 

Please RSVP by May 26th to Matt Fazio (MFazio@donnelly-boland.com) or by calling 412-882-5383 x 1138

 

We hope to see you there!

-Your friends at Donnelly-Boland and Associates