With the ACA's Future Uncertain, MBA Assembles Proactive Task Force to Keep Clients Informed
President Elect Trump made the promise to repeal and replace the Affordable Care Act ("ACA") a major part of his campaign. His position statement on healthcare reform indicates his intent to, on day one of the Trump Administration, ask Congress to immediately deliver a full repeal of the ACA.
His nomination of Tom Price, a long-time critic of the ACA, to head the Department of Health and Human Services, suggests he intends to make good on his campaign promises to repeal the ACA. However, it is uncertain at this point whether any changes will take effect immediately. As a practical matter, an immediate and complete repeal will face a number of hurdles.
MBA has assembled a Task Force to monitor changes to the ACA as they relate to issues that impact employers once President Elect Trump takes office and provide regular updates as well as reports of significant developments when they occur.
Currently, the ACA and its Employer Shared Responsibility Mandate ("Mandate") are still in effect. Therefore, until official guidance stating otherwise is issued, it would be prudent for employers to comply with the ACA. Because the timeline as to when changes will actually occur is uncertain, employers subject to the Mandate and employers providing self-insured health coverage should be prepared to move forward with furnishing Forms 1095 to applicable employees by March 2, 2017, and filing the forms with the IRS by February 28, 2017, if filing by paper, or by March 31, 2017, if filing electronically.
Other employers should continue to include the cost of employer-provided health coverage on Forms W-2 unless transitional relief, such as the relief from the requirement available to employers filing fewer than 250 Forms W-2 for the previous calendar year, applies.