After much anticipation, a replacement plan for the Affordable Care Act (ACA) was announced by the House Republicans. The replacement plan, announced as The American Health Care Reform Act of 2017, aims to transform the health insurance environment, making it fair to those how receive insurance from their employers and those how purchase health plans individually through a standardized tax deduction.
Although the House Republicans quickly revealed their plan right after being sworn in, they do not know the timeline of repealing the ACA and implementing the new replacement plan. Those who have health insurance coverage through the ACA will be assuredly safe within the transition to the new plan, according to Rep. Bill Flores. If the plan will be definitely put in place, the ACA will be fully repealed by January 1, 2018.
From Rep. Mark Walker’s point of view, the ACA had taken away the decision for individuals to decide their own healthcare. Healthcare professionals were concerned that repealing the ACA with no replacement plan would allow the individual health plan insurance market to fall, leading to lost coverage for about 30 million consumers.
The new plan aims to increase the use of health savings accounts and will standardize the tax deduction across the board. Health insurance plans will also be allowed to sell health plans across state lines, which will give consumers more options and will allow for competition.
Read the original article from Modern Healthcare here.