Last week, the House of Representatives voted 392-26 to pass H.R. 34, the vehicle for the 21st Century Cures Act. Republicans voted 218-20 and Democrats voted 174-6 in favor of the legislation.

As a part of legislation moving through Congress, “Small” Employers who don’t offer health insurance would be allowed to bring back the Health Reimbursement Arrangements (HRA) or Medical Reimbursement Arrangements (MRA) without being subject to the $100 a day per employee penalty after 12/31/16. The employer would even be able to reimburse health insurance premiums. The catch is the employee will not be eligible for the premium subsidies for any months they are covered under an HRA or MRA. To learn more or see the bill, click here.

Please contact Somerset CPAs and Advisors with any questions.