Now that Donald Trump has been elected President, how will this affect the Affordable Care Act's (ACA or sometimes known as “Obamacare”) employer mandates, reporting requirements, and penalty assessments?
In the health care industry, this question has been asked more than any other after the election. So rather than guess what might happen, we should first address the question of what employers and health care
professionals should do in the near term.
The short answer is that the Affordable Care Act is still the law of the land and the election results have no effect on the current employer mandate, information reporting requirements, and whether penalties will be assessed for failure to comply. There have been a number of opinions expressed on what might happen; however, until ACA is repealed, replaced, defunded, or amended by new legislation, this is just conjecture on what the Congress and the President might do. Regardless of any future proposed legislation, the ACA reporting requirements are still in effect for 2017 (tax year 2016). Read More