The proposed legislation would repeal the individual and employer mandates back to the beginning of 2016, increase the contribution limits for Health Savings Account, and eliminate many of the taxes created to pay for the Affordable Care Act. Read the bill and an eight-page summary here.
Among other things, the 21st Century Cures Act legalizes “defined contribution” for individual plans through a qualified small employer health reimbursement arrangement for non-applicable large employers. Below is the language from that part of the legislation.
The Affordable Care Act is the common name for the 2,409 page Patient Protection and Affordable Care Act as amended by the 55 page Health Care and Education Reconciliation Act of 2010, signed into law by President Obama on March 23, 2010. Together, this legislation makes the most significant changes to the health care financing system since Medicare was passed in 1965. Read the law as it was written by Congress.