On the evening of Thursday, Oct. 8, legislation introduced by Congressman Brett Guthrie was signed into law by President Barack Obama.
H.R. 1624, the Protecting Affordable Coverage for Employees (PACE) Act, passed in the House of Representatives and in the Senate last week and protects small to mid-sized employers from the next wave of Obamacare regulations.
H.R. 1624 maintains the current definition of the small group market for health insurance as employers with 1-50 employees. That definition was set to expand under Obamacare to those employers with 1-100 employees on Jan. 1, 2016. The small group insurance market has increased mandates and restrictions under Obamacare, so those workers who would have been forced into the small group market would have seen disruption in their coverage and increased costs.
“Since I introduced this legislation in March, I’ve heard from small businesses across the country,” said Guthrie, Vice Chairman of the Energy and Commerce Committee’s Health Subcommittee. “It was abundantly clear to me that the millions of hardworking Americans facing the looming disruption and premium spikes needed a permanent solution, not another delay.”
“I’m pleased that President Obama recognized this huge show of bipartisan support and signed this commonsense legislation. In making the PACE Act law, business owners can plan for the future a little easier by knowing they can continue to offer their current health care plans,” said Guthrie.