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OBAMACARE VS. HILLARYCARE VS. TRUMPCARE
WE ARE ON A COLLISION COURSE…
WHAT ROLE CAN CONGRESS PLAY?
HEALTHCARE EXPERT: Kevin McKechnie, is the Executive Director of the Health Savings Account (HSA) Council and the American Bankers Associations’ Office of Insurance Advocacy. He represents the HSA Council and ABA before Congress.
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“Last December, lawmakers on both sides of the aisle came together to force change to the healthcare law–- a two-year implementation delay of the so-called Cadillac tax on health plans.
For Americans insured with a Health Savings Account-qualified plan, this was the best healthcare reform news of 2015.
Now, with the fate of the Cadillac tax hanging in the balance, the president has proposed lowering the 40 percent tax rate in the highest cost states.
As designed, the Cadillac tax will hit seven high-cost states the hardest, including California. Accordingly, there is now strong bipartisan momentum for repeal of the tax in Congress.
Addressing the issue directly is a new bill introduced by Sen. Hatch (R-Utah), Sen. Rubio (R-Fla.) and Rep. Paulsen (R-Minn.), together with two other Senate co-sponsors, which would exempt employee contributions to their HSAs from being included in the calculation of whether the Cadillac tax applies to a given health plan.
HSAs are unlike traditional plans in several important ways. An HSA owner has skin in the game, spending their own money first; and, accordingly, acts differently than if they were spending their employer’s money, giving them more control over their healthcare choices while incurring generally lower costs.”
READ: http://thehill.com/blogs/congress-blog/healthcare/271529-the-coming-battle-over-cadillac-tax-reform
WEBSITE: hsacoalition.org, aba.com
TWITTER: @HSACoalition, @ABABankers