12 Feb President Signs Further Consolidated Appropriations Act, 2020

President Signs Further Consolidated Appropriations Act, 2020

In December of 2019, President Trump signed the Further Consolidated Appropriations Act which significantly affects provisions under the Patient Protection and Affordable Care Act (ACA). Read this blog post to learn more.

On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (Act) to keep the federal government running through September 2020. The Act significantly affects provisions under the Patient Protection and Affordable Care Act (ACA), largely through one fee extension and the repeal of three taxes.

The Act also included a one-year extension of the federal tax credit for employers that provide paid family and medical leave (FML) to their employees.

• The Patient-Centered Outcomes Research Institute (PCORI) fee is extended to 2029.
• The 40 percent excise tax on high-cost health insurance (“Cadillac tax”) is repealed.
• The Health Insurance Provider (HIP) Fee is repealed as of January 1, 2021.
• The medical device excise tax is repealed as of January 1, 2020.

SOURCE: Hsu, K. (31 January 2020) ” President Signs Further Consolidated Appropriations Act, 2020″ (Web Blog Post). Retrieved from https://blog.ubabenefits.com/president-signs-further-consolidated-appropriations-act-2020