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The Affordable Care Act Timeline for Individuals and Families [Infographic]

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The Affordable Care Act or healthcare reform was signed into law on March 23, 2010.  Some tax provisions related to the law took affect in 2010, but the requirement to purchase health insurance and how the purchase relates to your taxes doesn’t go into effect until 2014.  Still, Americans remain confused about when they need to purchase health insurance and when the requirement to purchase health insurance impacts their taxes.  Our experts at the American Tax and Financial Center at TurboTax put together this helpful infographic timeline to dispel the myths about healthcare reform and let you know when the key dates and events take place.

Infographic by Column Five Media

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9 responses to “The Affordable Care Act Timeline for Individuals and Families [Infographic]”

  1. Dear Lisa, I have had a tax-deferred IRA since 1996. My husband and I have a combined income of less than $35,000.00/year. I don’t intend to take a distribution or withdrawal from the IRA for several years. Will my husband and I qualify for health insurance under the ACA?

    • Never use? Anything can happen to you, which is why you need health insurance. It is to ensure that your hospital bills or any related health bills you might incur in the future. Unforseen accidents happen, valuing your life at $4000+ is a small price to pay to be alive.

  2. I’m a Disabled Vet, my wife works part-time, with a diabetic type I condition. How are we going to afford insurance premiums. My budget is already on the edge. I’m not like the gov who can print their own money. And I’m not like the President & Congressmen with their cadillac health care provided by my tax dollars, who are imposing their will on me. The mafia calls it extortion, Congress calls it legislation. From my perspective it seems the same.

    • As a disabled veteran with a wife who has diabetes, you should be celebrating the upcoming effective date of the Affordable Care Act (ACA). Your chances of losing everything from a massive health care bill just became far less. In addition, you should know that your premium will be based on your income. It is likely that you will be subsidized to a significant extent, based on your self described “part-time” work status

      How have you been taking care of your medical needs up to this point? By going to hospital emergency rooms and expecting the taxpayers to cover your expenses? Grow up and learn to take responsibility for your needs. The ACA will be a benefit to all.

  3. Thanks for the info.
    I can see a lot of low income people not filing their income tax in furture years. They can barely afford food, much less insurnace premiums.

    • Hi D,
      Your welcome.
      Individuals under the IRS income filing requirements of $9,750 for single, 12,500 Head of Household,
      and 19,500 Married Filing Jointly will not be required to purchase health insurance under the Affordable Care Act. There are also a few other exceptions. Individuals making under a certain income level may also be eligible for Medicaid under the Affordable Care Act.
      Thank you,
      Lisa Greene-Lewis

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