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GOP healthcare bill, san jose tax lawyerRecently, House Republicans introduced a health insurance bill that would replace the Affordable Care Act (also known as ACA or “Obamacare”). This bill was pulled before the House could vote, but its analysis is worthy as future bills may be forthcoming. The new bill was called the American Health Care Act (AHCA). Industry experts analyzed the effects of the bill and predicted that this plan, or any Obamacare replacement plan, would create “winners and losers.”

Both healthcare plans would have tax implications. Obamacare has an individual mandate requiring most taxpayers to obtain health insurance or pay a penalty when filing tax returns. It also offers tax credits. Obamacare offers a broad range of insurance premium subsidies based on household income and the local cost of healthcare insurance. The AHCA would have eliminated the required mandate and changed the tax credits that can be claimed. 

Details on the AHCA Tax Credit 

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