Tanning Tax, Among Others, Kicking In
News outlets covered several elements of the tax features of the health law.
Politico: The 2014 Obamacare Tax Wave
Tanning salons, colonoscopy scopes and prescription drugs like Xanax -- they're all items hit by taxes in recent years to fund President Barack Obama's health care law. Starting in 2014, the Obamacare tax man is coming for insurance companies -- who contend a good chunk of these costs will be passed on to consumers in the form of higher premiums. And with those now in effect, almost all of the taxes that will be used to offset the cost of Obamacare are in place (Bade, 1/6).
The CT Mirror: Obamacare Q&A: More Deadlines, Tax Credits And Being Uninsured For Part Of The Year
[Y]ou can't get the tax credit for a plan sold outside the exchange. ... Under the federal health law, people whose income falls below a certain level (400 percent of the poverty level) are eligible for federal financial assistance to buy insurance. That comes in the form of a tax credit. You can choose to get it in a lump sum when you file your taxes, or you can have the federal government pay some or all of the tax credit to your insurance company each month, reducing the amount you have to pay in premiums (Levin Becker, 1/7).