06/23/17

Senate Republicans Release ACA Repeal Bill

On Thursday, June 22, 2017, Senate Republicans unveiled their long-awaited health care overhaul proposal. The Senate bill, called the "Better Care Reconciliation Act," would repeal major parts of the Affordable Care Act, also known as Obamacare.
 
With the exception of some key changes-notably keeping income based subsidies to help people pay for individual coverage-the bill largely resembles the American Health Care Act (AHCA) passed by the House in May.
 
A vote is planned for the end of next week. If the bill passes, it would need to be reconciled with the House's bill before going to President Trump's desk. The full text of the 142-page bill can be found here.
 

How the Senate bill alters major parts of the ACA

Repeal

Change

Keep
  • Taxes created under Obamacare: Most eliminated; Cadillac tax delayed until 2026.
  • Subsidies for out-of-pocket costs: Preserved through 2019, then eliminated.
  • Individual mandate: Eliminated without replacement coverage incentive.
  • Employer mandate
  • Medicaid expansion: Phased out beginning in 2021; Imposes Federal funding restrictions via a per capita amount or block grant.
  • Tax credits for premiums: Based on age, income, & geography with plan restrictions and lower income requirements.
  • Essential health benefits: Allows state determination/waivers.
  • Prohibitions on annual and lifetime limits: Allows state waivers.
  • Restrictions on charging more for older Americans: Allows insurers to charge older customers 5x more than younger customers.
  • Health savings account: Increases permissible pre-tax contribution amounts.
  • Pre-existing conditions policy
  • Dependent coverage until 26

 

Marshall & Sterling will provide you with additional information as it becomes available. Please do not hesitate to reach out with any questions, comments, or concerns.