The Senate voted 51-49 early Saturday to approve tax reform legislation, which includes provisions that would repeal enforcement of the Affordable Care Act mandate that most individuals have health insurance, eliminate hospitals’ ability to access low-cost capital financing through advance refunding bonds, and impose a 20% excise tax on pay for certain nonprofit hospital employees. The legislation now must be reconciled with the House-passed bill, which would not repeal the individual mandate but would eliminate tax-exemption for private-activity bonds, as well as advance refunding bonds, and the medical expense deduction for people with high medical costs. House and Senate leaders are expected to name conferees tonight. “We are pleased that the Senate bill did not eliminate the tax-exemption for private-activity bonds for not-for-profit hospitals, protecting hospitals’ and health systems’ access to this vital source of low-cost capital,” AHA President and CEO Rick Pollack said Saturday. “…In addition, we are glad that the bill did not eliminate medical expense deductions for people with high medical costs and instead lowers the threshold for medical expense deductions from 10% to 7.5% for two years. We are also disappointed that the tax legislation passed with a provision that would [effectively] eliminate the individual mandate, which would result in the loss of health insurance coverage for millions of Americans.”

Related News Articles

Headline
The Centers for Medicare & Medicaid Services yesterday released a fact sheet for state and local governments seeking Medicare, Medicaid or Children’s…
Headline
An annual report into death by several factors tied to mental health and wellbeing — otherwise referred to as “deaths of despair” — topped 150,000 in 2018. The…
Headline
State Medicaid programs are reporting an uptick in enrollment compared with their fiscal year 2020 projections, due in part to the COVID-19 pandemic. The…
Headline
As part of Mental Health Awareness Month, Bruce Bailey, president and CEO of Tidelands Health based in Georgetown, S.C., talks about how hospitals and health…
Blog
Like all of America’s hospitals, Tidelands Health has a longstanding commitment to improving access to high-quality, affordable services. This includes…
Headline
The AHA, joined by America’s Essential Hospitals, Association of American Medical Colleges, and Federation of American Hospitals today urged the Supreme Court…