TaxAlmanac:Featured article/November 1, 2013

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Understanding the Affordable Care Act

Understanding the Affordable Care Act

Introduction

The Affordable Care Act was passed in 2010. It overhauls the U.S. healthcare system and affects nearly all taxpayers, many employers and various elements of the healthcare industry. This represents the most significant change to our healthcare laws since the passage of Medicaid and Medicare in 1965.

The new law has been phased in over multiple years spanning from 2009 to 2018. As you’ll read in the article, the new healthcare law utilizes the tax code and tax return in many respects to implement its measures. The following article summarizes the important aspects of the law and separates it out between the provisions impacting individuals and other provisions impacting small businesses.


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