1. Marvin Lake Marvin Lake United States says:

    This Act forced upon us by Democrats who didn't even read it, (according to Nancy Pelosi when she said, "We have to pass it before we know what's in it...") should have been dubbed the Unaffordable Care Act. Not only have premiums and deductibles skyrocketed, but various taxes and tax considerations have increased significantly.  

    In addition the mandate that everyone MUST have health insurance under the ACT has put unwarranted pressure on the lower income citizens.  If you can't afford the insurance, but do not qualify for a government subsidy or a waiver, the penalty for not carrying the insurance has risen by over tremendously between the initial penalty in 2014 of 1% of an individual's Adjusted Gross Income (per IRS filings) or $95, whichever is greater, to the current penalty level of 2.5% of AGI or $695.

    Another increase that is sometimes forgotten, or ignored, penalizes income tax filers who itemize expenses and deductions.  Regarding medical expenses for those individuals, or joint return filers, where previous to the Act, only expenses exceeding 7.5% of AGI were deductible.  Now those medical expenses must exceed 10% of AGI to qualify.  Some would call that a hidden tax.  There are many tax increases affecting different parts of the population, but the bottom line is people may not realize it, but amidst all the controversy about how Obamacare was rolled out, there is a bevy of taxes lurking the the Affordable Care Act to bite many of Americans in the behind and destroy the best laid household budgets for too many of us.

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
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