On January 20, 2017, President Trump issued Executive Order 13765 – Executive Order Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal.
Effectively, any president acts as the CEO of the Executive Branch of the government. “Sec. 2. To the maximum extent permitted by law, the Secretary of Health and Human Services (Secretary) and the heads of all other executive departments and agencies (agencies) with authorities and responsibilities under the Act shall exercise all authority and discretion available to them to waive, defer, grant exemptions from, or delay the implementation of any provision or requirement of the Act that would impose a fiscal burden on any State or a cost, fee, tax, penalty, or regulatory burden on individuals, families, healthcare providers, health insurers, patients, recipients of healthcare services, purchasers of health insurance, or makers of medical devices, products, or medications.”
To be certain it is only Congress that has the authority to repeal the Individual Mandate. However, the effect of President Trump’s Executive Order clearly weakened the tax. The IRS said in February that barring a legislative change, it will continue enforcing the Affordable Care Act, while “taxpayers remain required to follow the law and pay what they may owe.” However, the agency said it would still process tax returns this year even if taxpayers didn’t indicate whether they had Health insurance, as the agency had in past years. The Obama administration instructed the IRS to reject these so-called silent returns starting this year, but the Trump administration scrapped that change — essentially leaving the status quo. Clearly, the IRS doesn’t have the time or manpower to audit the returns of filers.
Currently, repealing the Individual Mandate is an issue President Trump has called on Congress to repeal as part of whatever tax reform legislation is agreed to by the House and Senate.
A driving factor in the rising costs of premiums, deductibles, and other out-of-pocket healthcare related expenses is what’s referred to as “essential health benefits”. All plans offered in the Marketplace cover the same set of 10 essential services. Essential health benefits are minimum requirements for all Marketplace plans. Specific services covered in each broad benefit category can vary based on your state’s requirements.
Check to see Do I Qualify to determine if you, your spouse, or employees are qualified to participate in Health Saver Plus III.