The Generational Divide: Millennials and Health InsuranceJune 29, 2017
On Thursday, the Senate released a revised version of their health care bill, the Better Care Reconciliation Act (BCRA). The initial bill, released in late June, was projected not to receive enough support to win the vote. The vote was delayed and the Senate has been working to make changes to appease to both parties’ concerns.
Some provisions of the revised bill remain the same including the elimination of the employer mandate and Medicaid cuts (capping payments and rolling back the expansion). Other, notable additions are:
- Some Affordable Care Act taxes would be kept in play including a tax on investment income (for people with high incomes) and a Medicare surcharge on the wealthy
- An additional $70 billion would be added to help states reduce premiums, implement new reforms and help stabilize insurance exchanges (total fund: $182 billion)
- Health Savings Accounts (HSAs) could be used to pay for insurance premiums
- Individuals would be able to purchase cheaper health plans with narrow coverage
- $45 billion fund would be created to help with opioid addiction
The Congressional Budget Office (CBO) will be reviewing this plan and their report will be released early next week. Stay tuned to this blog to stay informed.
Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002.
“I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization or just providing tips and how-to’s to help them make their job easier.”