MAG: HOW OBAMACARE MADE FILING TAXES WORSE! https://t.co/723SX9Btko
— DRUDGE REPORT (@DRUDGE_REPORT) April 5, 2016
...this filing season is the second in which Americans may have yet another—and bigger—tax bill to worry about: the one forced on us by the Affordable Care Act. It serves as a stark reminder of all the ways this law continues to harm American families and businesses, six years after it was signed.
While the Affordable Care Act’s tax increases are many, two are front and center this month: the individual and employer mandates. Both were supposed to increase coverage, but in reality they’re limiting career opportunities and taking more out of families’ and individuals’ wallets.
Start with the individual mandate, which is one of the most controversial provisions of the Affordable Care Act—and for good reason.
This mandate requires every American to be covered by a health insurance policy that complies with the law’s labyrinthine coverage requirements and restrictions. In 2015, for example, annual premiums for “low-cost” bronze plans obtained through the law’s exchanges averaged $2,484 for individuals and $12,420 for families with three or more children. If you don’t think this pricier insurance is worth the cost, or simply can’t afford it, you’ll likely face tax penalties upon filing your return.
