News Breakdown: The Supreme Court Decision on the Affordable Care Act

The Supreme Court ruled this morning that the Obamacare mandate that requires almost everyone in the US  to buy health insurance (or pay a penalty on tax returns) is constitutional.

What this means for you: Virtually everyone in the US will need to have health insurance, or pay a tax penalty. The tax is in effect starting 2014.

The Supreme Court’s rationale: Congress has the authority to levy taxes. Therefore, Congress has the authority to pose a tax penalty on those who do not buy health insurance.

Looks like Norwest’s bet on GoHealth was well diligenced!

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One thought on “News Breakdown: The Supreme Court Decision on the Affordable Care Act

  1. Amir says:

    My favorite is the number of folks that are moving to Canada in response…

    http://www.buzzfeed.com/daves4/people-moving-to-canada-because-of-obamacare

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