How will Trumpcare change Obamacare ?

I’ve spent the last three weeks engaging clients and prospects with the most important topic in my industry:  How will Trumpcare change Obamacare?  What impact will it have on my business, my employees, our coverage, my 25 year-old graduate student?  While I don’t have any secret inside information, nor am I on twitter,  there are several bills making their way throughout the beltway and have far reaching changes to the current system.  

Thus far, the names of the bills include, “ A Better Way” – Paul Ryan’s solution, the “ Patient Care Act”- Orin Hatch, “World Greatest Plan” – Cassidy, and the “American Health  Care Reform Act”- which is currently in the Republican Study Committee.  Most of the potential legislation promises to repeal the individual and employer mandates, which will all but put the final nail in the coffin to the Healthcare Marketplace.  Many give more incentives to create Health Savings Accounts (HSA) by continuing roll over provisions and expanding annual limits, 4 plans offer guaranteed issue coverage with some medical underwriting if there were breaks in coverage,   4 plans eliminate government run exchanges which dominate the current market, 3 bills allow insurance carriers to sell health plans across state lines, and 3 plans repeal covering dependents to age 26.

Suffice to say, the Republican solutions are all over the map.  Two bills which have emerged including the Paul Ryan proposal would provide financial assistance with age-adjusted tax credits, and the states would have more input than ever on High Risk pools and underwriting.  What is rather clear the ACA taxes on employers, and high income earners may very well go by the wayside which cuts off the oxygen needed to fund the current  Affordable Care Act (ACA).

Lots of changes on the horizon, and just like before; Muneris will be there every step of the way to help you navigate the changes, and architect a strategy for your business and valued employees.  Stay tuned while I check my twitter feed!

Burman S. Clark

Burman S. Clark, RHU, CSA is the President of Muneris Benefits and a licensed insurance broker and consultant. His independent practice and focuses on employee benefits, individual life, disability, medical, and senior products. Burman has traveled extensively and provided guidance to large employer associations with regards to the Affordable Care Act.