Affordable Care Act (ACA) Update | Obama Tax Care

On March 6th House Republicans have proposed tax provision changes to the Affordable Care Act (Obama Health Care Tax) to eliminate or delay the 3.8% Net Investment Income Tax, .9% Additional Medicare Tax, Excise Tax on High Dollar Health Plans, 2.3% Medical Devise Excise Tax, Health Insurance Provider Fee, 10% Excise tax on Tanning Services, Employer and INDIVIDUAL mandates.

What does this mean to individuals? The current Obama Health Care TAX that individuals must pay if they do not have minimum essential health insurance will be eliminated! Individuals will no longer have their tax return filings delayed because they do not have the appropriate Form 1095, although specific employer filings have not been addressed at this time.

This update is a major change to the Affordable Care Act and is a step in the direction to correct Obama Health Care Tax that is effecting many individuals.

We will keep everyone posted with any future Affordable Care Act updates as they occur, so hold on to your knickers, as change is afoot in Congress, Senate, and the White House!!


Tom Terranova, CPA

Jit Lee Billings, CPA

Terranova & Associates, LLC


Posted by Terranova & Associates LLC

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