The passage of the Health Care and Education Reconciliation Act of 2010 (H.R. 4872) (Reconciliation Act) by Congress on March 25, 2010 completed a massive overhaul of the nation’s health insurance and health delivery systems. The new laws include more than $400 billion in revenue raisers and new taxes on employers and individuals.
The health care reform package does not mandate employer-paid coverage, but instead includes “play or pay” language. The package also imposes a penalty on nonexempt individuals who fail to carry minimum essential coverage. On the revenue side, the health care package includes an additional Medicare tax on wages and self-employment income of higher income taxpayers, a new Medicare contribution tax on net investment income, and a delayed excise tax on high-dollar insurance plans, among its $437 billion in new taxes, fees and penalties.
To read the entire special report http://tax.cchgroup.com/legislation/Senate-Healthcare-Fixes-Bill-03-25-10.pdf