Do you have to pay Obama's medical reform tax this year?

The 2010 Patient Protection and Affordable Care Act, known as the Obamacare Reform Act, has made many changes to the tax code. Below is a summary of the main taxes, fines, fines and tax credits. However, Trump’s plan to weaken Obama’s health care reform is currently subverting many of these changes.

Uninsured fine

Before 2019, if you have no health insurance for at least 9 months of the year, you will be taxed extra. Starting in 2016, taxes have increased to 2.5% of adjusted total income. In 2019, Trump's tax plan canceled taxes. The tax cap has reached the highest level. It will never exceed the average national cost of buying a Bronze Health Insurance plan on an exchange. The Congressional Budget Office estimates that individuals are approximately $4,500 per year and families are approximately $12,000 per year.

Tax reduction

If you list item by item, you can only deduct the medical expenses not covered by your health insurance and exceed 10% of your income. Before aca, you can deduct a fee that exceeds 7.5% of your income. In 2017 and 2018, Trump's tax plan restored this deduction to the level before the ACA.

If you use a health savings account or similar account, you can only save $2,500 before taxes. ACA excludes over-the-counter drugs as eligible flexible consumer account medical expenses. If you do not use the Federal Security Agency's funds for medical expenses, the tax penalty will increase to 20%.

Income tax increase

Do you earn more than $200,000 a year? Are you co-registered as a married couple with an annual income of at least $250,000? Are you married, but declare separately, with an annual income of at least $125,000? If you answer yes to any of these, you will pay an additional income tax. This is an additional 0.9% medical insurance hospital tax, which is above the threshold for your income and self-employment profits. Your investment income will also be subject to a 3.8% tax. These include dividends and capital gains above the threshold.

If your income is higher than the threshold, you can pay the Obamacare tax if you sell your house. If you earn more than $250,000, or if a couple's capital gains exceed $500,000, the tax applies. This means that you must clear the applicable threshold amount after deducting the original purchase price and other investments. If you are selling investment properties, you will not get this exclusion. The Obamacare tax treats it as any other capital gain.

Business tax

Cadillac tax. Companies that offer high-cost health insurance plans, known as the Cadillac program, will be subject to a 40% GST. Personal premiums for these programs are at least $10,200 and family premiums are at least $27,500. They are needed by those who work in hazardous situations. It has been postponed until 2022. The lobbyists worked hard to abolish this tax in 2018, when companies will begin planning for 2020.

Indoor sunbathing service. These expropriated consumption taxes are 10% of the actual tanning costs.

Medical device manufacturer. These companies impose a 2.3% excise tax on total sales. This tax is suspended until 2018. The medical device industry association advamed is lobbying to abolish this tax.

Prescription drug manufacturers and importers. These companies charge a fee every year.

Health insurance company. They can only deduct $500,000 from the compensation for any one employee.

Tax credit

If your income is 400% or less of the federal poverty line, you are eligible for a tax credit. This varies from state to state.

If your income is 225% of the poverty level, you can also save yourself money. Any insurance company that sells on an exchange must reduce your costs to an affordable level. This varies from state to state.

If your income is 138% or less of the poverty line, you don't have to pay taxes. In most states, you are also eligible for Medicaid.


If you have fewer than 25 employees, you can enjoy a 50% medical insurance tax credit. If your employee's average salary is less than $50,000 and you pay at least half of the premium, you are eligible. This does not apply to the owner's health insurance costs. With fewer than 50 employees, you can use the health insurance exchange to help you find the cheapest plan.

If you have 50 or more employees, if you do not provide health insurance, you must pay a $2000 GST for each employee. The top 30 employees are exceptions. If you provide health insurance for retirees between the ages of 55 and 64, all businesses receive federal financial assistance. If you provide prescription insurance for retired employees, you can get a tax credit of 28% on medicine costs.


A tax-exempt employer can receive a 35% tax credit as a refund under the same conditions.