Friday, 17 March 2017 14:13

American Health Care Act

On March 9, 2017 the House approved the American Health Care Act—to replace tax elements of the Affordable Care Act (ACA)—by a vote of 23-16. The Act suggests various amendments to the current Affordable Care Act in place including: reducing employer mandate penalty, reducing individual mandate penalty, creating a continuous coverage requirement surcharge, delaying excise tax, repealing health insurance tax, repealing increase on Health Saving Account tax, and repealing limits on Flexible Spending Account limits. There are aspects of the Affordable Care Act that will stay in tax with this proposed Act. Read more here https://www.shrm.org/hr-today/news/hr-news/pages/legislative-update-aca-repeal-replace-advances-through-house.aspx