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Affordable Care Act : The New Health Reform Law

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The Affordable Care Act is the new health reform law that was signed into action on March 23, 2010. The Affordable Care Act attempts to reform the healthcare system by providing Americans with affordable health insurance. It helps put individuals, businesses, and families in control of their own healthcare. By the sound of it, it really looks like this is something that will positively impact the lives of Americans, and make it easier for individuals to obtain health insurance. Unfortunately, what many Americans are unaware of is that there are so many underlying issues that make the Affordable Care Act not so affordable. Issues such as penalties and taxes that certainly rack up the cost on individuals, businesses and even hospitals that make it difficult for people and businesses to be in “control” of their health care. The individual mandate is a “requirement stating that individuals have to obtain basic health insurance under the Affordable Care Act or pay a tax”. The fee for not having health insurance increases drastically every single year. For example, if an individual went without health insurance in 2014, the cost was $95 per adult and $47.50 per child (up to $285 per family) or 1% of their household income above the tax return filing threshold for your filing status- whichever is greater. If an individual went without health insurance in 2015, the cost was $325 per adult and $162.50 per child ($975 per family) or 2% of their household income above the tax

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