In a recent press conference, Dave Camp, chairman of the House Ways and Means Committee, cited a report released by the Congressional Budget Office that estimates 70 percent of the 5.9 million American taxpayers who will have to pay the mandate tax in 2016 to support the recent healthcare reform law will have low enough income to be covered by ObamaCare subsidies.
The CBO estimates 5.9 million American taxpayers will pay the healthcare mandate tax in 2016, a 51 percent increase from the agency’s 2010 estimate. Residents who earn less than 400 percent of poverty will potentially have to pay a larger portion of the tax than previously estimated, at 70 percent compared with 64 percent. The office estimates 4.1 million taxpayers with income less than 400 percent of the poverty level in 2016 will pay about $2.4 billion in taxes to support the healthcare reform law. The healthcare mandate tax will raise more than $60 billion in revenue over the course of 10 years, significantly higher than the original estimate of $30 billion.
Because the healthcare reform law is placing greater emphasis on individual and family health insurance coverage, public employers across the country are finding ways to make health insurance more affordable. The healthcare reform law is also calling on state governments to establish health insurance exchanges to make shopping for coverage easier for individuals and employers.