Be Ready – Major Changes to Healthcare and Related Taxes in 2013


Health insurance plans purchased on one of the health care exchanges, created by The Affordable Care Act of 2010 (ACA), will be effective January 1, 2014, which is also when federal subsidies to aid in buying health insurance will start and penalties for not purchasing it will be assessed.

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The revenue from new taxes and fees will help pay for broadening insurance coverage to about 30 million uninsured Americans in 2014.

However, in many ways the biggest changes brought about by the ACA are happening this year. These include: a wide range of tax increases, payment increases for Medicaid doctors, simplified plan language in Summary of Benefit Coverage documents, expanded coverage of Medicare prescription drug plans, and the opening of health care exchanges October 1, 2013.

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