Pre­dic­tion says 4 mil­lion will be fined un­der man­date

Modern Healthcare - - Late News -

The Con­gres­sional Bud­get Of­fice pre­dicts that about 4 mil­lion peo­ple will be re­quired to pay a fine for not buy­ing health in­surance, ac­count­ing for roughly $4 bil­lion per year in fees that will fun­nel through the In­ter­nal Rev­enue Ser­vice. The new health­care law re­quires most res­i­dents to carry some level of in­surance by 2016 or else pay a fine of up to $695 or a per­cent­age of house­hold in­come. The CBO and the Joint Com­mit­tee on Tax­a­tion es­ti­mate that about 21 mil­lion res­i­dents un­der 65 years of age will be unin­sured in 2016, but that a large ma­jor­ity of them would not be sub­ject to the fine. Ac­cord­ing to the CBO, the lion’s share of pay­ers will come from house­holds mak­ing more than 400% of the fed­eral poverty level. “The in­di­vid­ual man­date tax will fall hard­est on Amer­i­cans who can least af­ford to pay it, many of whom were promised sub­si­dies by the Democrats and who the pres­i­dent has promised would not pay higher taxes,” Rep. Dave Camp (RMich.), the se­nior Repub­li­can on the House Ways and Means Com­mit­tee, said in a writ­ten state­ment.

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