Affordable Health Care Act, Helpful How?

Affordable Health Care Act, Helpful How?

Barnaby Jones

Com / 156

January 11, 2014

Meg Mikovtis

Affordable Health Care Act, Helpful How?

Effective January 1, 2014, the Affordable Health Care Act goes into effect for Americans. The Affordable Health Care Act requires Americans to have health insurance or receive a fine when filling taxes at the next tax time. The new health care law passed by the United States Congress in 2010 ensures all Americans will receive health care coverage regardless of pre-existing health issues. For the convenience of all Americans, the Affordable Health Care system has a website for signing up. Affordable health care in the United States, implemented by President Barack Obama, has several benefits for the American people; it also comes at a cost.

The Affordable Health Care plan affects the American public in many ways; most importantly to many Americans is the financial aspect. Health care is a requirement for all Americans effective January 1, 2014. Americans, who remain without health care, will be subject to a fine starting in 2014 and subsequent years, until they obtain health care coverage. According to the Affordable Health Care web site, penalties for not having health coverage by December 31, 2013 are equal to 1% of the yearly household income. These penalties are not to exceed the national average cost of the yearly Bronze coverage premium. The maximum penalty the first year will not exceed $285 or a fixed rate of $95 per adult, 47.50 per child under 18 years old (Healthcare.org). Americans who are unable to obtain health coverage continuing each year after 2014 will be subject to increases on the penalties. Increases of 2% or $325 per person and 2.5% or $695 for 2016 with an increase every year thereafter adjusted based on inflation (Healthcare.org). Americans when filing income taxes will have these penalties applied if applicable. Americans do have the ability to reduce the out of pocket costs for the...