Posted on 08/27/2013 2:28:13 PM PDT by mdittmar
(Reuters) - The Internal Revenue Service issued final rules on Tuesday for the individual mandate of President Barack Obama's healthcare overhaul, one of the most contentious elements of the U.S. law set to go into effect next year.
A centerpiece of Affordable Care Act, also known as Obamacare, is a requirement that all individuals carry some minimum health insurance or pay a tax. The new system aims to provide insurance through state marketplaces and subsidies for tens of millions of Americans who lack it.
If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per person per year or 1 percent of income in 2014, whichever is greater, and eventually reaching $695 per person or 2.5 percent of income by 2016.
The IRS, which is administering parts of the law involving revenue collection, released the final rules spelling out the details of what constitutes minimum essential coverage, and how individuals are responsible for spouses, children and other dependents, among other topics.
(Excerpt) Read more at reuters.com ...
FIRE BOEHNER, NOW~!
So can a bunch of us just form a “union” that collects no dues and doesn’t negotiate for us in the workplace?
Personally, I’d rather Obama try to arrest everyone who’s ‘delinquent’.
What things do I own in my name? :)
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