Today, President Obama signed the Health Care and Education Affordability Reconciliation Act (H.R. 4872), the “reconciliation bill” that amends certain provisions of the healthcare reform legislation signed into law last week. (For a discussion of the reconciliation process, see the Compliance Alert dated March 23, 2010.)
The reconciliation bill brings the estimated total cost of reform to $940 billion over the next 10 years, which is $65 billion more than the original bill signed last week.
One highly controversial reform provision eliminated by the reconciliation bill is the "Cornhusker Kickback," which awarded Nebraska a special exemption from all new Medicaid expenses. Now, the federal government will assist states by funding 100% of the costs of expanded Medicaid coverage between 2014 and 2016. The federal funding level will be decreased over time, ultimately reaching 90% for 2020 and subsequent years.
The reconciliation law makes several other significant amendments to the reform law. Click here for an outline of these changes highlighting the prior reform provisions and the provisions now in effect with the signing of the reconciliation bill.
If you have any questions about healthcare reform, the reform process, or what reform means for your company, please contact our office at (919) 403-1986.
HCW Healthcare Reform Webinar
As a reminder, please join Hill, Chesson & Woody either on April 1 at 10:00 am or April 6 at 11:00 am for a 45-minute reform webinar in which we will:
- Review what has transpired and how reform will be phased in over the next several years
- Take a look at provisions slated to take effect in 2010 and 2011 and what employers need to be prepared for in the short-term
- Identify and address some possible unintended concerns raised by the new law that employers may have to navigate
For more information, visit our events page.
