On January 20, 2017, President Trump signed his first Executive Order (click here), which signifies his intent to repeal the Affordable Care Act. In the meantime, the Order instructs the executive branch agencies to take all actions they legally can to minimize the economic and regulatory burdens of the Act. Specifically, the Order instructs the Secretary of Health and Human Services and all other agencies with responsibilities under the Act to waive, defer, grant exemptions or delay the implementation of the Act with respect to provisions that would impose a fiscal burden on any State or a burden on individuals, healthcare providers, insurers and patients.
What does this mean?
We will have to wait and see. The Order itself does not repeal the ACA or delay any requirements. The Order notes that the agencies shall comply with the Administrative Procedures Act in changing any regulations.
We will monitor all actions taken by HHS, the IRS, and the DOL, to see which regulations and provisions might be delayed or waived. In addition we will monitor legislation as it is developed and inform you of any changes which affect your health plans or employees. Be prepared for lots of headlines and news on the topic and know that we will inform you of official changes.
In the meantime, we are still advising compliance with provisions of the law such as the IRS requirement that large employers complete IRS Form 1095-C regarding health coverage provided to employees. The actual repeal may have an effective date in the future. Thus, compliance with the law may be necessary for a period of time, as there are penalties associated with many current provisions.
Please contact any member of our Labor & Employment group if you would like additional information.