Part I – Individual Responsibility
Sec. 1501. Requirement to maintain minimum essential coverage. Contains findings of Congress related to the individual responsibility requirement.
Sec. 5000A. Requirement to maintain minimum essential coverage. Requires individuals to maintain minimum essential coverage beginning in 2014. Failure to maintain coverage will result in a penalty of $95 in 2014, $350 in 2015, $750 in 2016 and indexed thereafter. For those under the age of 18, the applicable penalty will be one-half of the amounts listed above. Exceptions to the individual responsibility requirement to maintain minimum essential coverage are made for religious objectors, individuals not lawfully present, and incarcerated individuals. Exemptions from the penalty will be made for those who cannot afford coverage, taxpayers with income under 100 percent of poverty, members of Indian tribes, those who have received a hardship waiver and those who were not covered for a period of less than three months during the year.
Sec. 1502. Reporting of health insurance coverage. Amends the Internal Revenue Code to require the reporting of health insurance coverage.
Nothing new in that. I have already stated my opinion on that one. It would be just like auto insurance. With out auto insurance, you can't legally drive your car. Same principal. The more people who have health insurance, the more the risk is spread out and the cheaper the health insurance premium. That is why that is in there.
We can go point by point on this.
Re: After Supporting Medicare Cuts Through Reconci
Member #: 10075
Registered: 1996-2001
Posted:
416
Name:
Dale
Occupation:
Project Manager/Sweep Technician
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