Republicans have officially floated their latest counter proposal to Obamacare. But they won't have one key business segment on their side: The benefits industry.
In a nutshell, the GOP proposal for extending health insurance to the masses would replace the Patient Protection and Affordable Care Act with the American Health Care Reform Act, the fulcrum of which is a substantial tax deduction for individuals and families that have qualifying health insurance. People wouldn't face the same pressure to buy insurance as they do under PPACA, but would still be incentivized to do so.
The big item that goes away would be the employer tax exclusion, along with the self-employed health insurance deduction, key pieces of PPACA.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
