Today, President Trump signed into law a sweeping tax reform bill passed by the House and the Senate on Wednesday that will materially affect virtually every sector in the economy, including, perhaps to a greater degree than others, the healthcare sector. Between the bill’s repeal of the Affordable Care Act’s individual mandate penalty tax and other pertinent provisions, we might reasonably expect to see:
- A material reduction in the number of insured nationally
- An increase in insurance premiums
- Increased patient volume at the emergency room and reduced volume for non-emergency services (resulting from the reduced number of individuals with insurance)
- Potentially increased profits for corporate and qualifying pass-through entities from a decrease in tax rates
We will be exploring these topics and more in future blog posts as the likely impact of this bill becomes clearer.