WATS Happenin'? (Affordable Care Act)
On 3/24/2017 Republicans withdrew their plan to repeal and replace Obamacare. In doing so, the Affordable Care Act remains the law of the land. What does this mean for individuals and employers?
According to the IRS "legislative provisions of the ACA law are still in force until changed by the Congress, and taxpayers remain required to follow the law and pay what they may owe."
You still have to buy insurance
The individual mandate remains in effect. This mean those who are uninsured could be assessed a penalty, unless they qualify for an exemption.
Employers still have to provide affordable coverage
Companies with 50 or more employees must continue offering affordable coverage to their employees or risk having to pay penalties.