States will have to set up their own health insurance exchanges, Medicaid will be expanded by 16 million low-income people, and Americans will have to buy health insurance (for many, with a government subsidy) or pay a penalty of 1 percent of their income to the IRS. Employers who have more than 50 employees and don't offer insurance will also begin to face a penalty. Insurers will no longer be able to turn away people with preexisting conditions, or charge people higher premiums based on their gender or health.
Only about 6 percent of the population will actually be required to buy health insurance or face a tax under the mandate, since most people already have coverage or will get it through Medicare, according to the Urban Institute.
Many of the more popular provisions of the law have already gone into effect, including a regulation saying insurers have to let children stay on their parents' plans until they are 26 years old, which 2.5 million Americans have already taken advantage of. Insurers can also no longer turn away children with preexisting conditions, and sick uninsured people can buy coverage in high-risk pools set up by the government.http://abcnews.go.com/Politics/OTUS/supreme-court-upholds-obamacare-individual-mandate-tax/story?id=16669186#.T_697oHPSuI
Here is a link to the ACTUAL BILL H.R. 3590 : http://www.gpo.gov/fdsys/pkg/BILLS-111hr3590enr/pdf/BILLS-111hr3590enr.pdf
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