Election Results & ACA: Amended or Repealed & Replaced?

With all the votes counted and the election finally over, it is time to see where America is headed when it comes to the cost of healthcare and employee benefits.  Like most Americans, you probably have many questions about what the future holds and how this election affects you.

So, how does a new President affect healthcare reform? Donald Trump has said many times how he plans to repeal the Affordable Care Act.  We also know he is in favor of Consumer Driven Health Plans, and willing to consider other reforms if they serve to lower costs.

Will President-Elect Donald Trump be able to make these changes?

“With Donald Trump in the White House, we can expect that every element of Obamacare will be challenged,” says Mike Thompson, president and CEO of the National Alliance of Healthcare Purchaser Coalitions. (Employee Benefit News)

While a complete toss of the Affordable Care Act is unlikely, Trump and his fellow Republican supporters will find ways to alter the law in many ways to suit the American people.

According to an International Foundation of Employee Benefit Plan Survey, 41.2% support the repeal of the ACA, while 45.5% do not.  At the end of the day, Trump will have to determine what is best for the American public. “Without a filibuster-proof Republican majority in the Senate, Democrats are sure to make every effort to block any proposal to fully repeal the ACA,” said Chatrane Birbal, senior advisor, government relations at the Society for Human Resource Management.

These election results have left everyone wondering what is in store for healthcare and employee benefits and looks like only time will tell. Fortunately, business owners already have access to CDHPs that serve to lower costs, such as Integrated HRA and 125 Cafeteria Plan. The question is how will Trump further enhance these types of plans to continue to lower healthcare costs? Until then, employers should proceed as planned, considering nothing will be implemented overnight – Obamacare is a prime example of that.

Open Enrollment 2016

It’s that time of year again, Open Enrollment! This time of year, BASE® offers our customers the opportunity to look at their small business and see what they could be doing to save more money. Is your business utilizing every possible tax saving option? Don’t worry, BASE® is here to help! Our products offer various tax saving options. Plus, once a year we give our customers the chance to check their plan, make changes and look forward to the new year.

Every year from October through December, a BASE® representative will walk you through your specific plan and makes changes if needed. New address? New business structure? If changes need to be made, BASE® will be able to update your plan for the following year.

One major change that is important to communicate during Open Enrollment is whether there has been a change from group to individual or individual to group health insurance. This change can greatly affect the plan design and available benefits through BASE® products. BASE® offers many products to help you or your clients save tax dollars. Along with saving money, we make sure your plan stays in compliance. 

With these compliance checks, your business does not have to worry about Affordable Care Act penalties.  BASE® can answer all of your ACA questions and how it relates to your plan, so you have peace of mind all year long!

Open Enrollment may be only once a year, but BASE® is always here to help!