Planning for the Affordable Care Act
Posted in the Joliet Forum
#1 Nov 8, 2013
With the Affordable Care Act starting for individuals January 1st 2014 knowing what you need to do is extremely important. First if you already have employer provided health insurance that meet the new regulations you do have to do anything. If you are self employed and paid for health insurance as a business deduction and it meet the new regulations you are fine as well. If you are one of the people that have health insurance that do not meet the new regulations you will need to upgrade your policy.
If you do not have health insurance you will need to sign up for health insurance by the deadline. And if you can't afford the coverage the ACA will pay part of your premium.
If you do not sign up for health insurance you there will be a monetary penalty.
For more information click on the link
Mark is an Enrolled Agent at the Accounting Shop www.acctngs.com/
Since: Nov 13
#2 Nov 8, 2013
If you have any question about income tax consideration and the Affordable Care Act feel free to call number on the website.
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