|
Illegal Immigrants |
|
Illegal
immigrants are not covered by the ACA.
|
|
Legal Immigrants |
Legal immigrants are not allowed coverage under Medicade
until after 5 years.
Legal immigrants can get
their insurance through the exchanges. |
|
Types of Coverages from the Exchanges |
Sec.1302
See the entire law
On the exchanges all insurance companies will have to
offer the same plans. The difference in the type
of plans reflect the different levels of cost sharing
between you and the insurance company. The
different plans will be as follows:
Bronze:
Covers 60% of your medical cost
Silver:
Covers 70% of your medical cost
Gold:
Covers 80% of your medical cost
Platinum:
Covers 90% of your medical cost
See more on Exchanges. |
|
Qualified Health Insurance |
Sec.1301
See the entire law
Effective January 1, 2014.
The ACA
dictates that you must have a qualified health plan.
The government will determine what is a qualified
health insurance plan and which ones are not.
A
qualified health plan will mean that you have to pay for
features you do not want. |
|
The Independent Payment Advisory Board
(IPBA) |
Sec. 3403
See the entire law
The law creates the IPBA which is a 15
member board of unelected cost-cutters. The IPBA's
mission is to identify cuts from medical institutions
that treats senior citizens. They will make
recommendations on what doctors and medical institutions
are paid. |
|
Income Tax Penalty/Individual Shared
Responsibility |
Sec.5000
See the entire law
Starting in 2014 everyone must have insurance or pay a
penalty.
Individual Penalty: starts at
$95.00 per year or up to 1% of income. In 2016 it
will increase to $750.00 per year or 2.5% of income.
Family Penalty: the tax will be $2,085.00 or
2.5% of household income.
See the IRS Q&A web page on Shared Responsibility. |
|
Cosmetic Surgeory Tax |
Sec.5000B
See the entire law
Effective January 1, 2010
The ACA imposes a 5% tax on any cosmetic surgeory.
Cosmetic surgeory is defined as sguregory that is
not
necessary
to
ameliorate
a
deformity arising from,
or
directly
related
to, a
congenital
abnormality, a
personal
injury
resulting
from
an
accident
or
trauma,
or
disfiguring disease. |
