With a 217 to 213 vote, the U.S. House of Representatives Republicans passed their version of the healthcare bill. This new bill would repeal and replace the Patient Protection and Affordable Care Act, a.k.a. “Obamacare.” If passed in the Senate, then expect changes beforehand. Here are a few highlights of the bill as it now stands:
No Tax Penalties: Exactly what it says, no tax penalties for those who do not obtain insurance. Essentially, this is similar to pre-Obamacare in that no person must obtain insurance and face a penalty.
Pre-existing conditions: States will have the ability waive the current requirement that insurers having to charge the same amount regardless of a pre-existing condition. It means that insurers can charge more for people with pre-existing conditions.
Medicaid: Obamacare would have expanded Medicaid to people just above the poverty line. The new bill will essentially stop the expansion by reducing the federal reimbursement to states whose people leave Medicaid.
In all, this will affect the way insurance companies do business in each state. Costs and coverage will certainly change for example. More will happen as the bill will be modified in the Senate, but we suggest you plan for the future. Let our expertise and experience help you and your company with that plan. Call us today 727-490-9104