This bill reconciles differences between the House and Senate budget proposals, repealing and/or modifying portions of the Affordable Care Act (ACA). The bill also outlines one-year of funding cuts to organizations that perform abortions, like Planned Parenthood.
This bill targets a few key provisions of the ACA for repeal, retroactively effective from Dec. 31, 2014:
- The individual mandate that requires those who can afford it to purchase health insurance or face a tax penalty;
- The employer mandate, tax penalties levied against business (with 50 or more employees) that don't offer healthcare that meets ACA minimum standards or affordable price points.
- The tax on employee health insurance premiums and health plan benefits.
- The excise tax on medical devices — effective immediately if this bill passes.
The 2015 tax year began on Jan. 1, 2015, — if you didn't buy health insurance and were mandated to during that period, you'd face tax penalties for non-compliance. Because these repeals would be effective retroactively, this bill absolves people from being fined for not purchasing health insurance via the individual and employer mandates.
Federal payments to states through Medicaid would be prohibited from going to health care providers involved in family planning services — specifically non-life threatening abortions.