Obama
Care:
Ready,
Set,
Duck
The
Patient
Protection
and
Affordable
Care
Act
has
passed
both
houses
of
Congress,
been
signed
by
the
president,
and
amended
by
a
151
page
reconciliation
bill
created
by
the
House.
Now
what?
We
thought
a
summary
timeline
outlining
the
significant
measures
that
impact
individuals
and
midsized
companies
would
be
the
most
useful
way
to
gain
some
perspective
on
the
impact
of
this
bill.
If
you
don’t
understand
this
bill,
hopefully
this
will
focus
your
attention
on
that
which
will
impact
you
and
when
it
occurs.
I
was
surprised
by
how
many
articles
and
websites
we
had
read
to
gather
this
modicum
of
information.
For
those
who
understandably
might
suspect
a
conservative
bias,
we
have
compared
the
timeline
to
and
drawn
information
from
the
Democrat
Policy
Committee
website
and
believe
the
timeline
is
consistent
with
their
summary.
1.
No
exclusion
for
preexisting
conditions
#
21
2.
No
annual
or
lifetime
maximum
benefits
limits
allowed
#23
3.
Varying
requirements
to
provide
preventive
care
with
no
copayments
#
27
4.
Can’t
charge
seasoned
citizens
more
than
3
times
20
year
olds
#28
5.
Penalties
for
no
coverage
are
relatively
low.
Why
buy
before
you
need
it?
#26
6.
The
Secretary
of
HHS
has
to
define
what
a
policy
must
include.
The
differences
in
state
mandates
account
for
dramatic
differences
in
premiums
among
states.
If
the
federal
government
adopts
New
York
mandates
insurance
rates
in
the
southeast
will
rise
dramatically
approaching
New
York
rates.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
3.8%
tax
on
unearned
income
for
families
with
income
over
$250,000,
individuals
$200,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
40%
Excise
tax
on
"Cadillac
plans"
individual
$10,200
family
of
Four
$27,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Beginning
in
2013,
income
over
$200,000
for
individuals
and
$250,000
a
year
for
couples
would
be
hit
with
a
2.35
percent
Medicare
payroll
tax
instead
of
the
existing
1.45
percent
rate.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
In
addition,
the
high
income
earners
are
taxed
3.85%
on
unearned
income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5 |
Imposes
an
annual
flat
fee
of
$2.3
billion
on
the
pharmaceutical
manufacturing
sector |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
2.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Imposes
an
annual
fee
of
$2
billion
on
the
medical
device
manufacturing
sector
3
Billion
after
2017 |
|
|
|
2 |
2 |
2 |
2 |
2 |
3 |
3 |
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Imposes
an
annual
fee
on
the
health
insurance
sector |
|
|
|
|
2 |
4 |
7 |
9 |
9 |
9 |
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
Limits
the
deductibility
of
executive
compensation
for
some
insurance
providers
(“covered
health
insurance
provider”).
The
deduction
is
limited
to
$500,000
per
taxable
year
and
applies
to
all
officers,
employees,
directors,
and
other
workers. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9 |
Imposes
a
ten
percent
tax
on
amounts
paid
for
indoor
tanning
services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
| ||||||