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Payroll Today

Quick takes on the House’s ACA repeal-and-replace bill

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Alice Gilman

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in Payroll Today

On May 4, the House of Representatives passed H.R. 1628, the American Health Care Act of 2017. The AHCA repeals major provisions of the Affordable Care Act, and we’ve written about that before. Now the bill moves to the Senate. Here’s what’s new.

Additional Medicare Tax

The 0.9% additional Medicare tax will still be repealed. But its implementation date has been pushed back from 2018 to 2023.

Two changes to HSAs/FSAs

Health savings accounts (HSAs) and health flexible spending accounts (FSAs) could again reimburse for over-the-counter drugs, effective for expenses incurred beginning this year, instead of 2018, as proposed in the original version of the AHCA.

For 2017, employees can contribute $2,600 into their FSAs. The AHCA repeals the dollar limit, beginning this year, instead of 2018, again, as originally proposed.

FYI: Employees must designate pretax contributions into these tax-favored accounts before the start of a plan...(register to read more)

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