Last week, House Republicans unveiled a plan to repeal and replace the Affordable Care Act (ACA). The proposed legislation, called the American Health Care Act (AHCA) would eliminate most of the taxes that were a part of the ACA, including the penalties associated with both the individual and employer mandates, the net investment income tax and the Additional Medicare Tax. The excise tax on high-dollar health plans would be left in place as would be a number of non-tax provisions including: allowing dependents to stay on their parent’s plan until age 26, prohibiting denial of coverage for pre-existing conditions and barring lifetime limits on insurance coverage. For more on the Republicans’ proposed health care legislation, see the attached CCH tax briefing. If you would like more information on how any of the AHCA provisions might impact your particular tax situation, please contact your Elliott Davis Decosimo tax advisor.
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