Questions on Obamacare
Staff -  Tom            

Are you confused about this law or feel you need more in-depth advice about how it might effect your business?  If so, please get in touch with me and I would be happy to help.

Tom Wilson, MHP, SGS, PPACA Certified
Benefits Consultant and Producer

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Although the Affordable Care Act or ACA (formerly referred to as the Patient Protection and Affordable Care Act or PPACA) was signed into law March 23, 2010, the main provisions of the law don't take effect until January 1st, 2014. 
On September 23rd, 2010 all pre-existing condition exclusions were eliminated for children under the age of 19.  This caused most insurance companies to discontinue offering child only policies and also raised rates for kids on existing policies.  
Non grandfathered plans were not allowed to apply certain benefit limits or lifetime limits on benefit maximums.
January 1st, 2013 brought about increased Medicare taxes on those making in excess of $200,000 (single) and $250,000 (couple). 
The meat of the bill however starts January 1st, 2014 when the only place to get subsidized coverage or tax credits for individuals or small businesses will be through state exchanges which are mandatory in every state.  Texas has indicated they will not create their own but instead allow the federal government to do it.