After the recent elections, one of the biggest questions that have been on the minds of everyone including both the public and the employers is ‘What is the future of the Affordable Care Act?’
People want to know whether ACA healthcare will be repealed completely or be just slightly modified. The anticipation is high and no less than stressful. And this is exactly what we’ll focus on, in today’s post.
To begin with, let us first tell you that after the ACHA (American Health Care Act) was published, there was a big and widespread dissatisfaction among both the Senate and House lawmakers. Also, according to the ACBO (Analysis of the Congressional Budget Office), it has been projected that in 2018, fourteen million fewer Americans will be insured. And that the chances of ACA being revoked are actually very low predominantly because for a full rescind, both the Senate and the House should approve the repeal. The Republicans will have to convince Democratic lawmakers for this, and compel them to vote for AHCA which is not as easy as it sounds.
Keeping the current situation in consideration, chances are that ACA will not be repealed. Instead, we might see modifications or reconciliation of ACA healthcare. The nation as a whole feels that the current Affordable Care Act requires a great deal of modification related to issues like:
- Few doctor choices
- High premiums
- High out of pocket maximums
Generally, the 2 essential elements that the public and employers want to see in a healthcare act are:
- Subsidy and tax credits for individuals who can’t afford health insurance
- Insurance reforms that include pre existing medical conditions
It is believed that perhaps the House is in favor of the current American Health Care Act and will vote for it by this month. But the uncertainty about the future of ACA healthcare for the year 2018 will mostly be from the Senate’s end as we don’t know what the Senate will vote for. Also, by next month, insurance carriers are also required to announce their insurance premiums for the year 2018.
According to analysts and experts, it is estimated that carriers may announce an increase of 15% to 20% in their health insurance premiums for the next year. Let’s just say, no matter what, it is still very difficult to see the so-called Affordable Care Act as being affordable.
If you’re struggling to lower your healthcare related expenses while offering your employees good healthcare benefits, then get in touch with us. At JS Benefits Group, our consultants can provide you with cost-effective employee healthcare management options to curtail the sky-rocketing expenses related to healthcare and insurance premiums. Call us on 877-355-6070.
