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Obamacare Implementation Timeline

Posted By Conn Carroll On March 26, 2010 @ 5:31 pm In Obamacare | Comments Disabled


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.

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2010/03/26/obamacare-implementation-timeline/

URLs in this post:

[1] Image: http://www.foundry.org/wp-content/uploads/timeline_chart4-8final.pdf

[2] hundreds of millions: http://www.desmoinesregister.com/article/20100325/NEWS09/100325023/1007/news05/Obama-in-Iowa-City-President-lauds-Dems-health-care-bill

[3] even billion: http://hosted.ap.org/dynamic/stories/U/US_TEC_ATT_HEALTH_CARE?SITE=VARIT&SECTION=BUSINESS&TEMPLATE=DEFAULT&CTIME=2010-03-26-14-42-16

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