The employer mandate will require businesses that employ more than 50 people to offer health insurance coverage for full-time employees or pay a penalty of $2,000 for each uninsured worker. Two key features of the law that will begin in 2014 are the “individual mandate” and the “employer mandate.” The individual mandate will require anyone not covered by an employer-sponsored health plan or a public insurance program like Medicaid, Medicare or the Department of Defense’s TRICARE program, to purchase a private health insurance policy from a list of government-certified packages, or pay a penalty for not doing so. Various aspects of ObamaCare have already been enacted, including: regulations on insurance companies prohibiting them from placing lifetime limits on coverage and requiring them to provide coverage for all applicants, at similar rates, regardless of gender or any pre-existing conditions and mandating that all existing health insurance plans extend coverage to non-dependent children up to age 26. Reduce the overall costs of health care for everyone by restricting certain insurance company practices and providing tax credits and subsidies for individuals and businesses.Streamline the delivery of health care services.Increase the number of Americans covered by health insurance.It is the federal government’s most comprehensive overhaul of the country’s health care system since the creation of Medicare and Medicaid in 1965. The Patient Protection and Affordable Care Act (PPACA), also known as ObamaCare, was signed into law on March 23, 2010. Practical Suggestion for Tax Refund: Pay off Credit Card Debt! January 9, 2018.Tax Season Countdown All Over Again June 30, 2020.Payroll Tax Deferral: Is It Worth It? September 11, 2020.How Biden & Trump Tax Policies Compare October 2, 2020.
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