President Donald Trump has signed an anti-government shutdown bill that will eliminate $12.7 billion in Affordable Care Act health insurer fee taxes for 2019.
The new "Extension of Continuing Appropriations Act, 2018″ (ECAA) will also:
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Give the federal government official permission to spend money, and continue with normal operations, until Feb. 8.
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Extend funding for the Children's Health Insurance Program for six years.
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Push the scheduled start date of the ACA Cadillac plan tax, or 40 percent excise tax on high-cost employee health benefits packages, back to 2022, from 2020.
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Suspend collection of the ACA medical device tax for two years.
Congressional Budget Office analysts have predicted the health insurer tax and Cadillac plan provisions will reduce federal revenue by a total of about $29 billion over 10 years.
The previous government spending appropriation act expired at midnight on Friday. The federal government had started the process of shutting down part of its operations.
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Allison Bell
Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.
