Earlier today in a bi-partisan vote the US House of Representatives passed the American Health Care Act (AHCA) in a 217-213 vote. With 20 Republican legislators voting against the bill, the AHCA passed by the slimmest of margins. The bill will now go to the Senate for consideration.
WHAT HAPPENS NOW:
Since republicans do not have a super-majority in the Senate, the ACA cannot be fully repealed. The AHCA focuses on changes to the current ACA by utilizing the budgetary reconciliation process. The Senate can choose to amend the house bill, keep it as written, or substitute their own version. Once a final version is passed in the Senate, identical versions of the bill must then pass both chambers before being sent to the President for signature.
WHAT YOU NEED TO KNOW:
While the House passage of the ACHA is the first step in the partial repeal/replacement of the Affordable Care Act, there is a long road ahead. As of right now, ALL provisions of the ACA are intact, and must be complied with. It's almost certain that whatever version comes out of the Senate will include changes to the bill was passed today.
GDP Advisors will continue to monitor the process of legislative changes and will keep our clients well informed of any updates. Please contact your GDP representative if you have any specific questions.