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Politics : A US National Health Care System?
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From: i-node7/28/2012 2:15:18 AM
1 Recommendation   of 42652
 
Partial List of Tax Increases/Provisions in the ACA (from an article in JOA this month)

Remember, there will be no tax increases on individuals making under $250,000.

Section 213. Itemized deduction decreased for unreimbursed health expenses. Previously the excess over 7.5% of income was deductible, starting in 2013, it will be the excess over 10%. This, of course, affects low income taxpayers disproportionately.

Section 3101. Additional hospital insurance tax on high-income taxpayers. Employee portion of Medicare hospital insurance tax (FICA) increased by 0.9% on wages exceeding a threshold amount.

Section 125(i) [this would apply to cafeteria plans]. Maximum reimbursement cannot exceed $2,500.

Section 1411. Medicare tax on investment income. Imposes a tax on individuals equal to 3.8% of the lesser of net investment income or the amount by which AGI exceeds a threshold amount.

Section 4375. Fee is imposed on each specified health insurance policy.

Section 49801. Excise tax on high-cost employer plans.

Section 223. Tax on Health Savings Accounts distributions. Penalty tax on excess distributions is doubled to 20%.

Section 5000G. 10% tax on amounts paid for tanning services.

A new annual fee on pharmaceutical manufacturers and importers of branded Rx drugs for sale to government programs.

Section 4191. Excise tax of 2.3% on medical devices.

Section 223. Amounts paid for OTC medications are no longer reimbursable from HSAs, MSAs, Health FSAs, or health reimbursement arrangements.

Section 2014. Increases the estimated tax payment requirements for corporations with assets exceeding $1B
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