Health Care Reform Updates

 
The U.S. Supreme Court on Thursday declared the mandate in Sec. 5000A, requiring U.S. citizens and legal residents to maintain minimum essential health coverage, to be a permissible exercise of Congress’s taxing powers under the Constitution.

So what does this mean for you?

  • Individual mandate to take effect starting 2014
  • All tax provisions upheld
  • Penalty on states for refusing expanded medicaid unconstitutional
  • Premium assistance tax credit to help offset cost of coverage
  • Limits on health FSAs and other arrangements continue
  • Small employer health insurance tax credit preserved
  • Codified economic substance doctrine sustained 

Those are the highlights, but there are plenty of other details involved in the new legislation.

For additional articles, click here (CCH) and here (JOA)