The ACA will inevitably change under the Trump administration – but how will this affect employers? As President Trump and Congress unravel the complex healthcare law, timelines and plans for a replacement continue to shift and evolve. With upcoming ACA deadlines and the threat of penalties still looming, this regulatory uncertainty has left many employers wondering what’s next.
Hours after his inauguration on January 20, 2017, President Trump signed an executive order targeting the ACA. The order does little on its own, but signaled the new administration’s intent to fulfill its campaign promise of repealing and replacing the act. However, this process will likely take longer than some had hoped or expected.
Trump has said that a final ACA replacement strategy may not be ready until 2018. Experts have warned that repealing the healthcare law without a suitable replacement in place could have drastic effects on insurance markets and leave tens of millions without coverage. However, large portions – but not all – of the ACA could see quick repeal if subject to the Senate’s recent budget resolution.
Though several Republican leaders have proposed their own ACA replacement plans, all require bi-partisan support to become law. In the face of this complexity, some lawmakers have recently called for the act to be “repaired” instead of entirely repealed, which could blur the lines of change even further. For now, however, the ACA remains intact and in effect.
Until official changes are made, employers are still responsible for meeting their ACA requirements and liable for possible penalties. But as the ACA evolves under the Trump administration, how can employers keep up-to-date and maintain compliance with changing regulatory requirements?
We invite you to download Empyrean’s new At-a-Glance Guides, covering the latest ACA updates and insights. These guides – two fully-updated, one brand new – will help you meet your 2016 ACA reporting requirements and gain a deeper understanding of changes on the horizon, so you can inform your compliance strategy and stay ahead of the curve.
Learn how the support of a proven partner can help you minimize risk, alleviate anxiety, and confidently manage the latest compliance challenges. As you read, we’d love to get your thoughts. Feel free to contact us with questions or comments at email@example.com.