With all the votes counted and the election
finally over, it is time to see where America is headed when it comes to the
cost of healthcare and employee benefits. Like most Americans, you
probably have many questions about what the future holds and how this election
So, how does a new President affect healthcare
reform? Donald Trump has said many times how he plans to repeal the Affordable
Care Act. We also know he is in favor of Consumer Driven Health Plans,
and willing to consider other reforms if they serve to lower costs.
Will President-Elect Donald Trump be able to
make these changes?
“With Donald Trump in the White House, we can
expect that every element of Obamacare will be challenged,” says Mike Thompson,
president and CEO of the National Alliance of Healthcare Purchaser Coalitions. (Employee Benefit News)
While a complete toss of the Affordable Care
Act is unlikely, Trump and his fellow Republican supporters will find ways to
alter the law in many ways to suit the American people.
According to an International Foundation of
Employee Benefit Plan Survey,
41.2% support the repeal of the ACA, while 45.5% do not. At the end of
the day, Trump will have to determine what is best for the American public.
“Without a filibuster-proof Republican
majority in the Senate, Democrats are sure to make every effort to block any
proposal to fully repeal the ACA,” said Chatrane Birbal, senior advisor,
government relations at the Society for Human Resource Management.
These election results have left everyone
wondering what is in store for healthcare and employee benefits and looks like
only time will tell. Fortunately, business owners already have access to CDHPs
that serve to lower costs, such as Integrated HRA
and 125 Cafeteria Plan. The question is how will Trump further enhance
these types of plans to continue to lower healthcare costs? Until then,
employers should proceed as planned, considering nothing will be implemented
overnight – Obamacare is a prime example of that.
BASE® - Marketing & Communication Specialist