Monday, February 27, 2017

Trump Administration Brings Changes to Healthcare

Bill Bloss, Regan Levin Bloss Brown & Savchak, P.C., Chamber Healthcare Committee Chairman

On January 20, 2017, Donald J. Trump was sworn in as the 45th President of the United States of America. The candidate who promised to “Make America Great Again” has also promised major healthcare reform. So what can we expect during the next four years from President Trump’s administration as it pertains to healthcare? If the President’s nomination of six-term Republican Congressman Tom Price to be the Secretary of Health and Human Services is any indication, significant change is on the way.

Mr. Price has previously introduced “The Empowering Patients First Act” that would repeal the Affordable Care Act, to be replaced by a completely new plan. The main features of this new plan include incentives to utilize Health Savings Accounts, age-based tax credits for health insurance, provisions to allow insurance providers to sell plans across state lines, and reforms making lawsuits against physicians more difficult, among other things. For his part, Mr. Trump had campaigned on the promise to repeal the Affordable Care Act as well. His plan mirrors much of Mr. Price’s, including required price transparency from all healthcare providers.

So what can you expect in the coming months? In a word…change. For small business owners, healthare costs have been a major source of pain over the last several years. Just know that the Chamber’s Healthcare Committee is dedicated to keeping you informed of any changes through regular communication and education.

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