Odds have now turned against those hoping that the health care law passed in 2010 will "just go away." The Supreme Court has spoken and legislative repeal seems more remote. On the other hand, President Obama has now indicated a willingness to improve the law and perhaps some of the more controversial provisions will work themselves out ... eventually.
The Treasury, Internal Revenue Service and Department of Health and Human Services also have considerable administrative flexibility in how they interpret and apply many provisions. This may be especially true following the Supreme Court's Mayo decision, which appears to allow agencies more leeway in interpreting statutory requirements. That said, some health care law provisions are already in place and others are set to start in less than five months, beginning in 2013. When faced with these realities, dealing with the law as it now exists, and within the parameters of the limited guidance already released, appears to be an appropriate course of action. Read More in Accounting Today.
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