After Last Week’s Election, What is the Future of the ACA?
After last Tuesday’s election where the Republicans have taken the Senate and retained control of the House, many are left wondering what the fate of the Affordable Care Act will be. The Affordable Care Act, or ACA, is a hotly contested bill with opinions in D.C. falling along party lines. This polarizing topic was hit again later in the week when the Supreme Court announced it would hear the case of King v. Burwel, which will determine whether federal exchanges can offer subsidies.
“The election week brought many changes, both in the make-up of Congress and in the government agencies taking advantage of the political chaos to quietly close a few loopholes in the law,” Said Benjamin J. Conley, Faculty, Health Care Reform Center & Policy Institute. “Combine that with the Supreme Court’s granting of cert to hear the challenge to tax subsidies on the federal exchanges, and this is one of the most eventful weeks of the year, from an ACA perspective.”
To help Agents, Brokers and Consultants make sense of the week and navigate the uncertainty ahead; the Health Care Reform Center & Policy Institute (HCRCPI) hosted a webcast to cover the topic and answer questions. This event was just for Certified Healthcare Reform Specialists® (CHRS).
“With the new reporting structure for the ACA the chances for employers to receive an IRS audit are 100 percent,” said Jonathan Edelheit. “Employers are required by the law to follow the 4980H formula and submit appropriate calculations to the IRS. The IRS will double-check all of the calculations send a bill to employers to fulfill the mandate requirements. Audits are inevitable and preparation for litigation avoidance and audit preparedness is a must, and this can all be done by taking the Certified Healthcare Reform Specialist® course. It is the only course taught by national benefit attorneys, experts in the ACA and by the IRS, HHS and DOL. Don’t bury your head in the sand, fines are going to happen in 2015 and compliance is mandatory.”
About the Healthcare Reform Center & Policy Institute
The Health Care Reform Center and Policy Institute is a nonprofit public policy organization. Our mission is to conduct independent research to provide innovative and practical solutions for providing more affordable healthcare and insurance. For more information about the HCRCPI, visit HealthCareReformCenter.org
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