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Learn about Doug Dahl's practice and find out about an interesting trend happening in the employee benefits field. Read more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Thought Leadership

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FCPA: 2016 Year in Review & 2017 Enforcement Predictions

A review of trends and developments in FCPA as well as a look ahead into what to expect for 2017. This report aims at providing corporate leaders and companies with the knowledge they need to comply with the FCPA and avoid litigation in 2017.

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House Passes American Health Care Act

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May 5, 2017

On May 4, 2017, the House of Representatives narrowly passed a bill that will repeal and replace the 2010 Patient Protection and Affordable Care Act (ACA). The Republican-backed American Health Care Act (AHCA) passed in the House with a final vote of 217 to 213. President Trump, the Trump Administration, and House Speaker Paul Ryan consider this a major win. However, the AHCA may face significant opposition in the Senate, so it is uncertain whether the AHCA in its current form will become law.

A previous version of the AHCA was introduced in the House earlier this year but was ultimately withdrawn before its scheduled vote due to insufficient support. The bill found momentum again after it received last-minute support from the House Freedom Caucus and key Republican leaders.

Like its initial version, the AHCA will roll back major aspects of the ACA, including Medicaid expansion and the individual mandate. Two recent amendments to the bill, however, helped it gain enough political strength to pass in the House:

  • The MacArthur Amendment: Under this amendment, states can waive aspects of the ACA's community-rating rules and permit insurers on the exchanges to charge more for patients with pre-existing conditions. Although insurers cannot deny these individuals coverage, there is no limit to the increased charges for pre-existing conditions. Additionally, the MacArthur Amendment allows states to determine the essential health benefits for exchange plans and allows insurers to vary premiums based on age.
  • The Upton Amendment: Included as a reaction to the aforementioned MacArthur Amendment, the Upton Amendment adds an extra $8 billion to the AHCA's Patient and State Stability Fund over five years to subsidize care to those individuals with pre-existing conditions.

The House approved the revamped bill before the nonpartisan Congressional Budget Office (CBO) could issue a report detailing its impact, but the CBO's analysis of the initial bill estimated that the AHCA would leave approximately 24 million fewer people insured by 2026.

The AHCA now heads to the Senate, where it faces uncertainty given the narrower Republican majority. Several Senate Republicans have criticized the House bill and, almost immediately after the bill passed in the House, key Senate Republicans have stated that they will draft their own healthcare legislation as an alternative.

The basics of the AHCA, now passed by the House, can be found in this March 2017 client alert. The AHCA will still allow individuals to remain on their parents' health plans until age 26.


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