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GOP tax bill: 3 things to know for healthcare

The GOP Tax Legislation could have an impact on healthcare coverage and organizations. The current House and Senate bill include items that would make sweeping changes to the healthcare system, according to NPR.


Here are three things to know:

1. The Senate's version of the bill would repeal the individual mandate that requires all Americans to purchase health insurance or pay a tax penalty under the ACA. If the requirement is dropped, the Congressional Budget Office estimates 13 million fewer people would have insurance in the next decade.

2. The medical expense deduction is repealed in the House bill, but does not appear in the Senate's current version. The repeal would take away deductions for medical expenses above 10 percent of an individual's adjusted gross income.

3. Vox reports the Senate tax bill could trigger a $25 billion annual cut to Medicare, according to CBO estimates, through sequestration because the tax bill would increase the deficit.

Sen. Susan Collins (R-Maine) has been a party hold-out on voting for ACA repeal and the GOP bill. Yesterday, she spoke at the Christian Science Monitor Breakfast, telling the audience that she expected Congress to pass legislation to lower premiums for health insurance before a final vote on tax reform with the removal of the individual mandate, according to The Hill.

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