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Seven Things You Need To Know About Obamacare’s Final Regulations

Thursday, September 5th, 2013 Leave a comment Go to comments

Last week, the Obama administration released the final regulations for Obamacare’s individual mandate. In particular, the individual mandate provision essentially requires most Americans to purchase health insurance or pay a fine.

Here are seven things you need to know about the mandate via Forbes:

1. You pay a fine if your spouse and kids are uninsured.
2. Pretty much any employer-sponsored plan meets the mandate’s requirements.
3. The mandate fine is small, and will have even less impact over time.
4. The IRS can’t criminally prosecute you if you don’t pay the fine.
5. Many older individuals will be exempt from the mandate.
6. If you don’t file a tax return, you’re exempt.
7. ‘Members of recognized religious sects’ and American Indians are also exempt.

To read more about the key takeaways listed above, click here.

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