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S. 3391, Taking Essential Steps to Testing Actcost estimate
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on September 19, 2012      Payments of Penalties for Being Uninsured Under the Affordable Care Actdata or technical information
Beginning in 2014, the Affordable Care Act (comprising Public Law 111-148 and the health care provisions of P.L. 111-152) requires most legal residents of the United States to either obtain health insurance or pay a penalty tax. That penalty will be the greater of: a flat dollar amount per person that rises to $695 in 2016 and is indexed by inflation thereafter (the penalty for children will be half that amount and an overall cap will apply to family payments); or a percentage of the household’s income that rises to 2.5 percent for 2016 and subsequent years (also subject to a cap). |
