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Victoria J. Braden


Braden Benefit Strategies, Inc.

Don’t Be Fooled – Nothing has changed for employers or individuals on the legal requirements of ACA – Obamacare!

Many employers are under the false assumption the election of our new president or the bill the House passed in May, ends the employer ACA requirements.  This is WRONG and could require a company to pay thousands of dollars in fines.

Individuals may also have the false impression they are no longer required to maintain qualified health insurance. This too is wrong. You will not be able to electronically file your tax return without checking the box asking you if you had health insurance in 2017. If you have not complied with the individual mandate you will pay a fine.

During 2017 large employers, employers with 50 or more full-time equivalent employees, must provide their employees affordable, minimum essential health insurance. Those that do not are violating the law and are subject to fines.

It is very doubtful the law will be changed in 2018. Even if the House and Senate agree on changes to the current ACA law, it would be very difficult for the law to go into effect until 2019. Health insurance companies are required to submit their plan designs and corresponding premiums to their State Department of Insurance for approval 4 to 6 months before the effective date of the new plans. Most health insurance companies adjust their plans yearly, generally in January of the new year. With the House and the Senate still working on a solution. Once the recommended changes are determined, they would then be voted on by both the House and Senate, then reconciled between the two Congressional houses before being signed by the President. This will take a significant amount of time, well into 2018.

Yes, I do believe we will have healthcare reform in 2018!