House Republicans unveiled a bill that they are calling a repeal and replacement plan for the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148). The GOP’s American Health Care Act (AHCA) would eliminate most of the ACA’s taxes, including the penalties connected with the individual and employer mandates, the net investment income (NII) tax and the Additional Medicare tax. Left in place, although delayed, would be the excise tax on high-dollar health plans. Also left in place would be a number of non-tax provisions related to scope of coverage, benefits and children—including allowing dependents to continue staying on their parents’ plan until age 26, prohibiting health insurers from denying coverage or raising rates to patients based on pre-existing conditions, and forbidding lifetime limits on insurance coverage.
For highlights of the GOP’s proposed legislation to repeal and replace the ACA, see Wolters Kluwer’s latest Tax Briefing, ACA Repeal and Replacement. To access the Briefing, please click on the following link: https://www.cchgroup.com/media/WK/TAA/PDFs/news-and-insights/federal-tax-legislation/aca-repeal-and-replacement.pdf.
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