From what I've read, the law only addresses COLA.
Posted by
decline (aka Decline)
Jun 28 '12, 09:44
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Require U.S. citizens and legal residents to have qualifying health coverage. Those without coverage
pay a tax penalty of the greater of $695 per year up to a maximum of three times that amount ($2,085)
per family or 2.5% of household income. The penalty will be phased-in according to the following
schedule: $95 in 2014, $325 in 2015, and $695 in 2016 for the flat fee or 1.0% of taxable income in 2014,
2.0% of taxable income in 2015, and 2.5% of taxable income in 2016. Beginning after 2016, the penalty
will be increased annually by the cost-of-living adjustment. Exemptions will be granted for financial
hardship, religious objections, American Indians, those without coverage for less than three months,
undocumented immigrants, incarcerated individuals, those for whom the lowest cost plan option
exceeds 8% of an individual�s income, and those with incomes below the tax filing threshold (in 2009
the threshold for taxpayers under age 65 was $9,350 for singles and $18,700 for couples).
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