Presidential Republican candidate Donald Trump’s victory in the election, along with Republican majorities retained in both the Senate and House of Representatives, will likely have a significant impact on the employee benefits industry, as well as a number of compliance issues over the next four years. This piece provides an overview of some of the changes to come. After hard-fought campaigns by both candidates, Donald Trump was elected the 45th president of the United States on Nov. 8, 2016, and will be inaugurated into office on Jan. 20, 2017. During his campaign, Trump called for a repeal of President Barack Obama’s health care reform legislation, the Affordable Care Act (ACA). In addition, Trump’s victory raises uncertainty over the future of other policies enacted under President Obama.
This Broker Insights piece serves as a high-level summary of some of the changes to come. However, like any election, how and if Trump’s campaigned platforms and promises will be achieved once he takes office remains to be seen. By being aware of the potential changes, though, you can better understand how the Trump administration may impact the employee benefits industry, which allows you to prepare your business and your clients for any potential changes. Please note that this list of potential changes is based on current expert opinion, research and formal statements released by the President-elect and the Republican Party.
This list is not exhaustive and is subject to change without notice as the new administration takes office. Because of the uncertainty, you and your clients should not make any substantial amendments to your benefits plans and be sure to look to Broker Briefcase for the latest updates.