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Notable Provisions of the American Health Care Act

If signed into law, the American Health Care Act would, among other changes, make the following revisions to key features of the ACA over the next three years:

• "Pay or Play": Penalties for noncompliance with the "pay or play" coverage requirement (which mandates, in general, that employers with 50 or more full-time employees [including full-time equivalent employees] must offer affordable, minimum value coverage to their full-time employees, or pay a penalty tax) are zeroed out. However, the Form 1094 & 1095 reporting requirements are unchanged by the bill.

• Individual Mandate: Penalties for noncompliance with the individual mandate are zeroed out, effectively repealing the mandate. In its place, the bill requires issuers in the individual or small group markets to impose a 30% penalty on the health insurance premiums of individuals who do not maintain continuous health insurance coverage. Goes more than 63 days without coverage.

• HSA Contribution Limits: Limits on contributions to health savings accounts (HSAs) are increased to equal the inflation-adjusted annual out-of-pocket expenses limitation imposed on high deductible health plans (currently $6,550 (self-only coverage)/$13,100 (family coverage)).

• Health FSA Contribution Limits: Limits on contributions to health flexible spending arrangements (health FSAs) are eliminated. Goes back to Employer sets limits.

• Tax Credits for Individual Coverage: Replaces the ACA's premium tax credits for individual market coverage with advanceable, refundable tax credits adjusted for both age and income up to $75,000 income level.

• Market Reforms: Permits states to seek waivers from the ACA's essential health benefits and age and health status community rating requirements.

• Medicaid: Allows states to elect to receive federal Medicaid funding via a block grant or per capita allotment, and alters the ACA’s Medicaid expansion.

If you need assistance with your health insurance coverage. Give AMGI a call today, toll-free at 1-800-798-6772.
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Speaking at the Iowa Realty Eastern Iowa Regional meeting this morning on the ongoing changes with healthcare and the insurance benefits available for Iowa Association of Realtor members. ... See MoreSee Less

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Working IIADA convention. ... See MoreSee Less

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Mission Statement

Providing solutions and expertise in healthcare coverage and employee benefits for our clients. To provide these services and products to meet the individual needs of our clients and their best interests, not ours. With this attitude AMGI hopes to achieve a partnership philosophy with our clients and partners.

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AMGI is an independent benefits consulting group that uses a variety of carriers to assure our clients get the appropriate program to meet their needs.

AMGI provides expertise in both state and federal laws ensuring that your plan remains in compliance with local and federal issues.

AMGI uses advanced computer automation which aids our ability to serve our clients in a fast, cost effective manner.

AMGI provides expertise in the Medicare Market, providing assistance with Medicare, Medicare Advantage Plans, Supplement Programs and the various options under the New Medicare Prescription Drug benefit, Part D. Whether your needs are for your employees, yourself or protection of your family, AMGI can help!

AMGI specializes in helping association members fulfill their benefit needs. We work closely with the business, it's employees and the association in benefit placement, tracking, and claims assistance when needed. 

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Jesse Patton (2nd from left) discusses healthcare with President Bush.
This was at the National Institute of Health in Bethesda, MD on January 26, 2005.

 

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