Affordable Health Care Act Explained — Obamacare Facts – TurboTax Tax Tip Video

The Affordable Care Act, also known as “Obamacare,” is one of the biggest revamps of our healthcare
system since medicare was introduced in 1965. It changes the rules for health insurance companies, businesses, and everyday people, like you. With all of these changes, it’s not surprising that many people are wondering, How does it affect me? First and foremost, starting on January 1st, 2014 everyone will be required to have health insurance, with a few exceptions for certain religious groups, Native tribes, and others. The good news is, if you already have health insurance through your employer, not much will change. You’ll be able to keep that coverage and your kids can now be covered on your insurance until they are 26. If you, or your family, are not insured,
or you pay for your own insurance, you’ll be able to purchase affordable insurance through either a state or federal marketplace depending on where you live. These online market places open October 1st, 2013, and will offer preset bronze, silver, gold, and platinum plans with different costs and levels of coverage. Catastrophic plans will also be available to people
under 30 who meet certain income requirements. Insurers won’t be able to discriminate against, or charge
higher rates for, anyone based on pre-existing conditions or gender, and they can’t establish annual spending caps on essential health benefits. Wondering how you’ll afford to buy insurance? Well, the new law has two ways to help you. First, some Americans will qualify for a subsidy, also called a Premium Tax Credit. Basically, this means the government helps you pay for your insurance. How much of a subsidy depends on your age, income, and number of dependents. Generally speaking, the lower your income, the bigger the subsidy. Second, Medicaid will be expanded in many states to cover more low income families. So, they don’t need to purchase insurance. If you choose to go without health insurance in 2014, you’ll be charged an annual penalty. This amount goes
up each year you don’t have insurance. And, will be charged when you file your taxes, starting in 2015. The requirement to have health insurance does not
affect the taxes you file in 2014. And, you can rest assured that TurboTax is always
up to date with the latest laws. So, what do you need to do now? Educate yourself and your loved ones. You’re already off
to a great start by watching this video. The tools on can help you calculate your subsidy, find the marketplace for your state, and more. So, you’ll be ready when the changes come.

49 Replies to “Affordable Health Care Act Explained — Obamacare Facts – TurboTax Tax Tip Video”

  1. Im glad the United States finally became the last industrialized nation to offer universal healthcare. Other countries have been making fun of us for way to long. If Japan, UK, Canada, France and Australia can offer it's citizens universal healthcare, there is no reasons at all the United States cant do the same.

    This is GREAT for Americans

  2. Sure you can, it's called income tax, state tax, Social Security Tax. Accoring to the Supreme Court of the United States, the Federal Goverment has the Power to tax it's people. This was challenged twice in the Supeme Court but both times failed. Per the Supreme Court, the individial mandate is a tax. So it is written, so it is done.

  3. Also ,get the facts straight man, this is the kinda misinfomation that causes confustion for people. The Individual mandate is not 100 dollars per month. It's 1-2% of your annual salary and if you make less than 10k a year, you dont pay anything.

  4. Wow, talking about missing the point –

    Also, are you are comparing Slavery to Universal Healthcare??? Ooookkkk….exiting stage right –>

  5. depends on if you're living on the land or on the water … educate yourself … if you've consented to be governed in the democracy, well, that's your choice! People don't want to do their homework and then they whine.

  6. Go back to your government welfare check. The rest of us hard working Americans are against this (and this was even confirmed by CNN polls…and CNN is the most liberal news media in the country).

    So damn right I'll complain.

    Under Bush, the Welfare usage was at 4 million. Under Obama, it is nearly at 60 million!!!

  7. Since I live in part of the country that has very low pay, I bet I will be helped with the tax, but I don't want help. I don't want insurance. But think about this for a second. How many on welfare, or making low wages like me? We get tax payer breaks, cause we have to. This will bankrupt our country!!! Such BS. And stop calling it "Affordable Healthcare" Its anything but affordable. Cost more, and deductibles go up, EVERYONE has to have it. How is that Affordable??? Nuts.

  8. Yep, I know a lady behind on child support for thousands. I got behind once by two months and was caught up by the time I went to court. They charged me $200 for court cost anyways. Crooks. The IRS can take anything of value. Home, cars etc. They are paid by the federal reserve. So they are not even ran by Americans. Its a total screw job.

  9. The reason for the fine is to encourage ppl to but health insurance. The reason for that is bc the bill wont work unless a large percentage of the country has health insurance.

  10. so, you are worried about our country going bankrupt, but you are not worried about others paying for your cost of care if you get sick or have to go to the hospital for any reason? How on earth does this make any sense? The extreme high costs of health care is because of so many people do not have health care and then expect the government or someone else to pay for it (because someone has to pay for it). You may no sense at all.

  11. Oh I "May" all the sense in the world. Not everyone lives in a hospital. Over the last five years I have gone to a community clinic twice & it cost me $20 total. The first time was just a wellness check. Second time a pinched nerve. The practitioner could not figure out why my chest hurt so he said I was under stress & should take a suicide pill. That's all they do is pill up & guess. So two days later when my back went out I started Yoga & problem solved! Now im on the hook for 10 grand a year

  12. You are such a child. Did you know that drug companies charge US more because Socialist countries put a cap on how much they can charge? We're floating the bill of EVERYONE. THAT is part of the reason OUR healthcare costs are so high.

    Those countries you named? Yeah, the rich come here for GOOD healthcare.

    So who's left to fund this crap? NOBODY. Now we're all equally worthless.

  13. Unfortunately it isn't the same as other countries. Ours is set up in the interest of greed developed by a man who is not for America and is doing everything in his power to bring America to it's knees so that we are all under subjection to the federal government and we won't have any control of what they do or say. This is all leading up to becoming a one world nation and us losing our constitutional rights.

  14. Freedom of Commerce Amendment…

    Congress may not mandate that the citizens of the United States must
    purchase any goods or services of a privately owned business or
    impose a penalty in the form of taxation or in any other form upon
    citizens for refusing to submit to such congressional mandates.

  15. Universal Health Care in EU and all industrialized and civilized countries in the world, is a right, not a privilege, and started 120 years ago when Otto von Bismarck became the first Chancellor of Germany. The Health Insurance Bill of 1883, Accident Insurance Bill of 1884, Old Age and Disability Insurance Bill of 1889, was the expression of elevated minds, the beginning of Universal Human Rights and all the achievements that followed. Greed and madness fights to take us back to the cannibalism

  16. You have two choices. Pay more, which you already do by subsidizing people that don't/can't pay when they go to the ER. Since the insurance companies are in bed with the hospitals, the costs of someone not paying at the ER is passed onto those that do pay. Not to mention the fact that going to the ER for something that is completely preventable, like a tooth ache, which cost all of us exponentially more. Or you can pay less, over a period of time, by enrolling in the ACA. The more people buy into it, especially young healthy people, the lower everyone's medical costs/insurance will be over time. Make sense? No. Well the reason that car insurance is so high is because too many people drive and get into accidents without insurance. Those that do have insurance have to pay extra to cover those that don't. It's the same deal with healthcare and insurance. Those that don't have it screw over those that do. The insurance companies aren't in business to help you. They're in business to make money. They've figured out long ago how to profit off of the ignorant and lazy.

    Those that really don't want people to enroll are the insurance companies, now required to provide a quality service, instead of selling inexpensive but otherwise junk coverage. The insurance companies were/are relying on ignorant people to enjoy paying cheap insurance fees while not actually providing descent medical coverage when the person in need actually needs it. Those that liked paying low rates for (junk) insurance were paying for an illusion.

    The sad reality is, those that sign up for the ACA often pay even less than the junk insurance they thought they like before. With the ACA, they actually get quality coverage because the insurance companies are required by law to actually provide a service that isn't just window dressing.

    With all of the preventative care and pre screening that millions more people will now get, the productivity of the individual will increase the productivity of the nation. Less sick time means a happier employee. A happier employee means increased productivity. Increased productivity means increased profits for the employer. Increased profits for the employer means an increased GDP for the nation. An increased GDP means a wealthier and more secure nation. A wealthier and more secure nation is a matter of national security.

  17. u know..there are people out there..who truly do need insurance and cannot afford the "exorbitant" prices they charge..its ridiculous..this obamacare totally confuses me..i dont know which one is the best one for me..i think they should leave it up to the person..whether or not they want insurance or not..not be told by the have to have it or be fined

  18. I don't have health care because Covered California tells me that a mixed family like mine needs to be covered through Welfare. Welfare tells me Covered California needs to offer me coverage meanwhile both companies that my wife and I work for wants to charge us 1,200 dollars a month to cover our family and continues to say that if one of our Family members gets hospitalized, I have to pay an additional 10,00 annual deductible and We're still responsible for 20% of the bill. What the hell is happening to America? I'm so disappointed

  19. This Obama care isn't working, making it a law to pay the billionaires monthly outrageous installments to have coverage, yet a deductible so high one can't use the ins. they pay for monthly. It's bullshit. one would more think this was drawn up by the medical field and not Obama.  Pay us monthly, then pay your own bill, WHAT THE FUCK IS GOING ON!~!!

  20. a quote fro Margaret Thatcher……." every family should have the right to spend their money, after tax, as they wish…"

  21. Look the "ACA" is very stupid!! It's the penalty of forcing everyone, who files a W-2, to have the IRS take over $300.00, which is an indirect tax…that did not start in the House of Representative; and give it to the insurance Pimps!!💯 The Supreme Court said the penalty is a tax on the working poor!!💯 So, at the end of the day… the Insurance Pimps wrote the ACA and the democrats passed it; and Barack signed it!!💯💯 Domestic enemies of the working poor must be voted out of a office!!💯🇺🇸🇺🇸🇺🇸🤔💯🤔😱😱 The forced ACA penalty must be abolished, because it is illegal under the Constitution of the United States of America!!🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

  22. I want EVERYONE to remember before Obamacare was pasted…. The news media outlets and television late night talk shows were calling anyone who questioned Obamacare a racist and conspiracy theorists. They simply assisted the government in selling this healthcare nightmare to the people. This is the same news media who is now promoting Hillary Clinton. They lied once, would it be a stretch to assume they are lying now again?

  23. Let explain something… IF you live in a country thats government can force you to buy ANYTHING from another person or private company and FOCRE you to enter into a Binding legal contract towit, be it a house or a car or a bible or a gym membership or HEALTHCARE INSURANCE! and if you refuse you will be imprisoned and if you resist you will be killed YOU DO NOT… REPEAT DO NOT LIVE IN A FREE COUNTRY any longer! I am sorry you JUST DON'T!

  24. Lol if you think socialized healthcare actually works let me refer you to every country in the world who has never been able to make it work. Even in the countries where is “works” they can’t do it on there own. The US subsidizes those countries with military funds and that other money that they don’t have goes into their “genius” healthcare system, that if the US would ball up already and stop subsidizing other countries, would fall flat on it face.

  25. HA-HA-HA! The best line is "You will be able to buy 'affordable' health insurance." It is stunning how many people do not understand basic economics….they call themselves "democrats."

  26. Congress is now calling the peanalty tax a "shared responsibility tax." Members of congress should be robbed for $4,350 every time they are seen. SERIOUSLY. That's 2.5% of the average annual income of a congressman. Same % they steal from us. It's time they start sharing the responsibility too.

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