President-Elect Trump & The Future of “Obamacare”
and the Affordable Care Act

With the 2016 Presidential election now decided, the question many American’s woke up to today is what will happen to the Affordable Care Act, the Federal Exchanges, Obamacare and all else related to these landmark laws.

The first answer is that in the near term; nothing. The Affordable Care Act and all of its components, those related to businesses and those for individuals is the current law of the land and will remain so until, unless, repealed and perhaps replaced. The Department of Labor (ERISA), the Department of Health & Human Services (Obamacare) and the Department of Revenue still govern these laws and, thus, our near term guidance is to continue to follow all aspects of these laws so as to be in compliance.

As most know, President Elect Trump included in his platform the intention to repeal and replace the law. With a Republican House and Senate majority in place it would be our expectation that he and they will do just that but we also expect that doing so could take one to two to three years. It is a truly massive law that touches an enormous number of American businesses and that has been used to provide coverage to more than 20 million individuals and families via the Federal Marketplace (aka Obamacare) and an expanded Medicaid program.

Repealing these programs will be complex and take time. In fact, most experts estimate that these changes, if they are made as has been touted, will take at least two years and we would also expect some sort of transition period for those now covered, as well as new programs to be introduced. It’s even possible that some aspects of the current law will ‘survive’ such as, perhaps, the lack of individual health questions and requirement that pre-existing conditions be covered, both key benefits of the current law, when applying for coverage.

Time will tell exactly what happens and when but one thing that is certain is that you can and should count on the professional agents and underwriters here at Morris & Reynolds. Our experts have been providing quality, reliable advice to our clients since 1950 and we will most certainly do that in the weeks, months and years ahead. As always, please contact us with any questions you have whether on the anticipated changes or any other insurance or protection topic and we will be most happy to help.

Robert D. Reynolds, CIC, CPIA, AAM, AIS, AU
President & CEO of Morris & Reynolds Insurance
E. | T. 305.238.1000 EXT. 116

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