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What is the US Affordable Care Act?

The 2,700-page law contains a complex web of mandates, directives, price controls, tax increases and subsidies. The measure is conservatively expected to cost $2.4 trillion in its first full decade.

Oct. 7 ( ─ The Affordable Care Act, passed by US Congress and signed into law by the President in March 2010, will not be implemented all at once. Portions of the law have already taken effect like provisions that implement a new Patient's Bill of Rights.

According to the White House, if people living in the United States purchase or join a new plan on or after September 23, 2010, insurance companies must:

Obamacare«Cover recommended preventive services without charging out of pocket costs: Services like mammograms, colonoscopies, immunizations, pre-natal and new baby care will be covered, and insurance companies will be prohibited from charging deductibles, co-payments or co-insurance.

Provide an opportunity to appeal coverage decisions: Consumers will be guaranteed the right to appeal insurance company decisions to an independent third party.

Guarantee enrollees their choice of primary care provider: Consumers will have their choice of provider within the plan's network of doctors, including OB-GYNs and pediatricians, without a referral, as well as out-of-network emergency care.»

These three provisions, the White House explains, will benefit up to 88 million people by 2013 out of the more than 300 million living in the United States.

However, there are already at least 20 hidden taxes in the Obama's Health care plan coming down upon Americans the next few years. So, along with rationed care for seniors and forced health insurance, Americans now find there is a Real Estate Tax snuck into the Health care plan.

Starting in 2013, not only will US residents pay the closing costs and real estate fee when property owners sell their houses but now they will pay a 3.8% Sales Tax. So, if people sell their home for $400,000 (as an example), perhaps wanting to downsize because they are senior citizens (over 65). they will pay $15,200 in Tax.

Many seniors downsize their homes as retirement comes closer, so along with long lines and rationed care that is substandard, seniors and anyone will have to pay more tax on the home they just sold.

Penalties for individuals: They will pay 2.5% of their annual income as a fine/penalty if they don't purchase the government approved health care plan.

Penalties on families: Parents will pay a yearly $347 per kid if they don't purchase a government approved health care plan.

Penalties on employers: Businesses with 50 or more employers will get fined at least $2,000 per employee if they don't provide the 'government approved' health care plan. The charge will apply even if they provide better coverage for their employees.

Other special taxes and fees:

Investment income: Anyone making $200,000 or over gets to pay 3.8% of their annual investment income.

Those having a fancy health care plan and paying as an individual, $10,200 or $27,800 for a family, will have to pay a 40% annual tax on those health care plans.

Medical aid devices have gotten hit hard as well. They will see a 2.9% tax hike.

Medicare gets more money because if you earn $200,000 or more you pay a special Medicare tax of 3.9.%

This Law, better known as "ObamaCare" will be enforced by the Internal Revenue Service. The tax agency plans to hire 16,500 new auditors, agents and investigators, and to increase enforcement audits. The IRS can confiscate tax refunds, place liens on property and seek jail time if health-related penalties and taxes are not paid.

[ Full text of this Law ]

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