How Will Your Taxes Change When Health Care Reform Is Instituted?

Two health care reform bills became law in the United States in March of 2010. The first, The Patient Protection and Affordable Care Act was enacted on March 23rd. It was followed seven days later by another law, The Health Care and Reconcilitation Act of 2010 that amended the former legislation.

These bills came into being in response to several issues such as the policy of insurance companies to deny coverage to people with pre-existing conditions, the number of Americans who had been driven into bankruptcy due to medical expenses even though they were covered by an insurance policy, the high cost of premiums that prohibited some individuals and small entrepreneurs from purchasing insurance, and the fact that people had died because they could not obtain the necessary medical care due to the cost involved. Many turned to online doctors and online prescriptions to ease the cost of their medical woes.

Under this new legislation, everyone will be required to have health insurance. For many, this will be furnished by an employer, as has been the case in the past. Online doctors will be covered under most healthcare providers listed under telemedicine services. Those individuals who are not employed full time or who do not have insurance as part oftheir employment package will be required to purchase health insurance. However, insurance companies can no longer refuse to insure people with "pre-existing conditions" so policies will be available and the government will help with the purchase.

But, as with all new government services there is a cost. And as also usually happens, taxes are implemented to cover the costs. Health reform is no exception. Since insurance companies will gain additional income from the legal requirement that all citizens be insured, they will have to bare some of the cost. Companies that provide employer sponsored health plans will be required to pay an excise tax on the insured amounts in excess of $10,200 for individuals and $27,500 for families. This tax will amount to 40% of the dollars over $10,200 and $27,500.

Individuals whose annual income exceeeds $200,000 and families who earn over $250,000 will have Medicare tax rate increased from .9% to 2.35% beginning in January 2013.

Other miscellaneous taxes have also been created. Starting in January 2013, companies that manufacture medical devices will be required to pay a 2.9% tax and outdoor tanning salons will be taxed 10% on their services.

Although as it stands now, health care reform will be primarily financed by business and those in the upper income brackets, this can be expected to filter down to the individual in ways other than taxes. For example, tanning salons may well increase the price of their services to cover the new tax.

In our present economy, people are seeking out ways to save money on medical care such as ordering an online prescription, as a prescription online is usually less expensive. Many people now consult with an online doctor since online doctors are also known to have less expensive consultation fees.

Given the 40% tax that insurance companies will have to pay on employer insured plans, it is entirely feasible that these companies will seek to limit the plan to avoid the tax so seeking out less expensive health care options such as an online prescription through an and online doctor which may become even more prevalent.

Get a Prescription Online from and Online Doctor at www.QuickRxRefills.com.

WARNING: Limitations of Online Doctor/Medical Consultations and Online Prescriptions, QuickRxRefills cannot Prescribe, Dispense, or Resell any and all Narcotics/Controlled Substances (this policy is fully enforced by the Drug Enforcement Administration (DEA)) for Pain, Anxiety, Weightloss, Sleep, ADHD/ADD including non-controlled substances or any medications that are considered controversial or recalled in nature such (i.e. Retin-A, Accutane). Furthermore, QuickRxRefills is not a substitute for an office based physician in your location nor is it a substitute for Emergency Medical Care or 911. If you do experience a "true" medical emergency your are encouraged to pick up the phone and dial 911 as soon as possible.