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A Closer Look at the American Health Care Act

On March 6, 2017, the proposed American Health Care Act (AHCA) was released by House Republicans to replace the Affordable Care Act (ACA). The AHCA was passed by both the Ways and Means Committee and the Energy and Commerce Committee on March 9.  Last week the House Budget Committee approved the bill and it is anticipated that this week, the week of March 20, the House Rules Committee will consider the bill early in the week with it heading to the House Floor by the end of the week.

Additionally, on March 13, the Congressional Budget Office (CBO) released its estimated costs and impact of the AHCA. The CBO estimated the AHCA would cut the federal deficit by $337 billion; however, they also estimated it would increase the number of uninsured by 24 million (under the age of 65) over the next 10 years.

Some items to note in the proposed AHCA:

  • Individual and employer mandates would be repealed retroactively to January 1, 2016
  • Other ACA-related taxes would be repealed
  • Marketplace subsidies and the Medicare tax increase would be repealed
  • Medicaid expansion would be phased out
  • Limit on health FSA contributions would be repealed; as would the over-the-counter limitations on FSAs and HSAs
  • HSA contribution limits would increase

As the proposed AHCA continues to make its way through the House and Senate, we want you to know that MCM CPAs & Advisors is staying on top of this ACA repeal and replace initiative. As pertinent information related to the AHCA becomes available, we will provide you with additional updates.

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Personnel Profiling joins MCM

Effective July 1, 2014, Personnel Profiling, Inc. has joined the team at Mountjoy Chilton Medley, Kentucky’s largest CPA & advisory firm. With MCM, we’ll continue to offer the same top notch HR assessments, services and tools, now coupled with a greater breadth of in-demand expertise and services. You can now find the PPI main office and staff at MCM’s downtown Louisville headquarters.

Read About The Merger Continue to MCM's Website