By Sound Accounting & Technology LLC.
Senate Republicans have released a health care bill which could go to a vote as early as next week.
The Senate bill as released for discussion seeks to undo Obamacare with phased out Medicaid expansion, cuts to abortion funding and tax cuts on HSAs and FSAs.
- Would peg federal insurance subsidies to income and include deeper long-term cuts to Medicaid for low income recipients vs. House Bill.
- Would eliminate Medicaid reimbursements to Planned Parenthood for one year.
- Would eliminate the requirement for Individuals to provide proof of health insurance coverage when filing their tax returns. The discussion draft as of today provides language changing the shared responsibility individual mandate payment percentages and amounts to zero retroactive to months beginning after December 31, 2015.
- Would eliminate the requirement for employers with 50 or more employees to provide health insurance to workers. Shared responsibility employer mandate payment amounts changed to $0 retroactive to months beginning after December 31, 2015.
- Includes tax cuts on Flexible Savings Accounts (FSAs) and Health Savings Accounts (HSAs), eliminating the maximum contribution limitation on FSAs and adding catch up provisions for spouses sharing an HSA.
