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Otherwise, they were required to pay the individual shared responsibility payment as a fine. [2] [3] It was one of the many Affordable Care Act tax provisions. The federal tax penalty for violating the mandate was eliminated by the Tax Cuts and Jobs Act of 2017, starting in 2019. [4]
The ACA also established a penalty tax (related to the individual mandate) for individuals without adequate insurance, an excise tax on employers with 50 or more workers who offer insufficient coverage, annual fees on health insurance providers, and the "Cadillac tax" (yet to be implemented as of 2017) on generous employer-sponsored health plans.
The increase in the threshold for the itemized medical expense deduction from 7.5% to 10% of AGI (originally scheduled to take effect on January 1, 2017) goes into effect (per the Tax Cuts and Jobs Act of 2017). The repeal of the "individual mandate" by the Tax Cuts and Jobs Act of 2017 goes into effect, reducing the tax penalty to zero. [150]
The concept of an individual mandate goes back to at least 1989, when The Heritage Foundation, a conservative think-tank, proposed an individual mandate as an alternative to single-payer health care. [ 123 ] [ 124 ] It was championed for a time by conservative economists and Republican senators as a market-based approach to healthcare reform on ...
On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act of 2017, which eliminated the federal tax penalty for violating the individual mandate, starting in 2019. (In order to pass the Senate under reconciliation rules with only 50 votes, the requirement itself, at $0, is still in effect). [17] Individual mandates on the ...
The U.S. Justice Department said on Thursday that the part of Obamacare requiring individuals to have health insurance is unconstitutional.
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On December 20, 2017, the individual mandate was repealed starting in 2019 via the Tax Cuts and Jobs Act of 2017. [81] The CBO estimated that the repeal would cause 13 million people to lose their health insurance by 2027. [82]