With many different governmental figures fighting over certain policies for the past couple of years, it looks as if the Affordable Care Act is finally going into place. Several different things will change and a lot of people will be able to save money on their health care. Initially, major changes will include the fact that anyone under 26 years old can remain on their parents health insurance, or that prescription drugs will drop in price. Later on in the 11 year plan, you may see changes like penalized companies with 50 or more employees that don’t offer health coverage, or even a large 40% tax will be placed on health insurance companies that provide the “Cadillac” health plans.
“Well, all this saving money is just wonderful!” you may say. But where is this money coming from? Taxes will take a lot of the money straight from the health industry companies. Another large portion will come from higher taxes on individuals and families making higher incomes. This is what will feed the piggy banks for an affordable health care for everyone. Be sure to checkout Healthcare.gov for more information and to sign up in the healthcare marketplace (when it is working again). No matter whether you are a small business owner or an individual, these are your first steps to the 11 year plan provided by Obama and the Affordable Care Act.
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