^[1]

Obamacare has not even been the law of the land for one week and already major Fortune 500 companies are announcing hundreds of millions ^[2], and even billion ^[3], dollar hits to their bottom line. Heritage’s health care team has gone through the legislation and produced the following timeline (pdf) ^[1] of major policy implementation. Highlights from each year include:

2010: Establishes a requirement to provide coverage for non-dependent children up to age 26 to all existing health insurance plans starting six months after enactment.

2011: Increases the additional tax for Health Savings Account withdrawals prior to age 65 that are not used for qualified medical expenses from 10% to 20%.

2012: Reduces the benchmark payment for Medicare Advantage plans that cover 20% of all seniors.

2013: Imposes a 2.3% excise tax on all medical device manufacturers.

2014: All individuals must buy a government approved health insurance policy or face IRS tax penalties of up to $2,250 per family.

2017: States may allow businesses with more than 100 employees to buy insurance on their exchange.

2018: Imposes 40% tax on high cost health insurance plans.