30 Second Insurance Tips©

Tip #314- GOP Healthcare Bill: What Does It Mean For Employer?

According to Employee Benefit Advisor – one reliable news source for folks like me – this is what employers should know, assuming The American Health Care Act makes it through the Senate without major changes:
  • The employer mandate is toast!
  • The Cadillac tax, already delayed to 2020, is pushed back again to 2026.
  • Control of insurance plan design will largely be returned to states. Say good-bye to bronze/silver/gold plans and, in some cases, “essential benefits.”
  • Pre-existing conditions must still be covered but states may apply for waivers allowing for higher premiums in some circumstances.
  • Contribution limits to Health Savings Accounts (HSAs) and Sec 125 Flexible Spending Accounts (FSAs) are increased.
I’m inclined to favor most market based reforms but can’t help note, the Republicans are pushing this through behind closed doors and without any bi-partisan support. It is, of course, what Democrats did seven years ago.
Mother often said, “Two wrongs don’t make a right.”
P.S.  Join me June 8th in our Mequon office at 4:30, for a one hour presentation “Health Reform: What’s Next?” This is the first in a series of informational meetings. Click here to see the full schedule and RSVP.