Health insurance tax sparks more controversial around federal law

Health insurance rates

New health insurance tax could make coverage more expensive throughout US The Affordable Care Act has served as a divisive legislation throughout the U.S. since its introduction in 2010. In 2012, the law was upheld by the Supreme Court after months of strong opposition from several states. The Obama administration heralds the law as a new era for health insurance throughout the country, with the law’s provisions designed to make coverage more affordable to a broader spectrum of people. As the law inches closer to becoming fully enacted on January…

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Health insurance may represent a tax risk for consumers

health insurance disclosure tax penalty

Tax risks regarding health insurance begin to attract notice As the Affordable Care Act inches closer to becoming fully enacted, there is no shortage of worry that the federal health care law is generating throughout the country. As insurers warn that health insurance coverage will become more expensive next year and states continue to battle the Affordable Care Act on general principle, the law’s provisions are beginning to show the possibility that they could expose many consumers throughout the country to significant tax risks. Federal law offers subsidies for health…

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Franchises to face a potential struggle from burden associated with health insurance tax

Franchise owners who are struggling to come through the economic crisis in an environment where poverty is rampant, and are starting to wonder if their ability to improve the employment situation may be related to the health insurance tax that was established as a part of the 2010 Patient Protection and Affordable Care Act, and which will begin as of 2014. The health insurance tax will require employers with 50 or more employees to pay a tax of $2,000 per worker, if the company chooses not to offer health insurance…

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New bill in Maine calls for lawmakers to pay health insurance tax

Republican legislators in Maine have proposed a new bill that would levy a $4 monthly health insurance tax throughout the state. The bill notably exempts federal and state employees from the tax, drawing harsh criticism from both Democrats and citizens. Democrats had submitted amendments to the bill late last week that would remove the exemption for lawmakers, but the notion was dismissed by Republicans. However, Senator Richard Whittemore, R-Skowhegan, issued an emergency legislation that would require state legislators to be included in the tax. The reasoning behind the proposed tax…

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