The Supreme Court ruled yesterday to uphold the Obamacare healthcare law’s mandate, after speculation that the justices would overturn the law. According to ABC News:
Though the sweeping, 1,000-page plus law passed more than two years
ago, much of it will not go into effect until 2014. That’s when 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.
For a brief recap, see this video from ABC News.