Mandates to purchase health insurance
–Taxpayers who fail to enroll in health insurance will have to pay a penalty for each month not enrolled. The penalty is the lesser of the actual premium cost for the bronze level of coverage or $495 for a single person and $1485 for a couple or family; or .5 % of income for 2014, 1% for 2015, and 2% for years after 2015.
–Members of a recognized religious group who do not believe in health insurance are exempt from this requirement.
–Large employers must have a waiting period of 60 days or less; for longer waiting periods, there is a penalty of $600 per employee.
–Those in the construction industry who employed 5 or more employees and whose payroll expenses exceeded $250,000 shall be considered large employers for purposes of requiring health insurance.
–The GAO is to study the rate of denial of coverage and enrollment and make reports.
–If the cost of an employee’s group health insurance exceeds 8% of his household income, he can have a voucher paid for by his employer to purchase health insurance through the exchange. The cost to the employer is the same as he would have paid for the employee’s health insurance, including dependents.