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12 Days of Obamacare Surprises: The Individual Mandate
Posted By Alyene Senger On December 14, 2012 @ 6:56 am In Featured,Obamacare | Comments Disabled
Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next 12 days, Heritage is going to highlight one of the various changes in Obamacare projections (i.e. cost, enrollment, etc.) from when the law first passed until now.
One of the most infamous features of Obamacare is the individual mandate , which requires most Americans to purchase health insurance or pay a tax for being uninsured.
In 2010 , the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) estimated that 4 million people would pay the penalty in 2016 and that collections from those penalties would be about $4 billion per year between 2017 and 2019.
In 2012 , the CBO and JCT updated their estimate of those paying the mandate to 6 million people in 2016, totaling $7 billion in tax revenue and growing to $8 billion per year from 2017-2022.
Surprise: That’s an increase of 2 million more uninsured people paying the penalty each year and about $3 billion more in tax collections annually.
Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2012/12/14/12-days-of-obamacare-surprises-the-individual-mandate/
URLs in this post:
 Image: http://blog.heritage.org/wp-content/uploads/gifts.jpg
 individual mandate: http://www.heritage.org/multimedia/infographic/2012/10/obamacare-in-pictures/who-will-pay-the-obamacare-individual-mandate-tax
 2010: http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/113xx/doc11379/individual_mandate_penalties-04-30.pdf
 2012: http://www.cbo.gov/sites/default/files/cbofiles/attachments/Indiv_Mandate_Penalty_One-Col.pdf
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