Using money wisely and building wealth

How will ObamaCare affect you…

Unless you have been living under a rock (or working so hard to feed your family that you haven’t listened to the news) you have most likely heard that the Supreme Court of the United States voted 5 to 4 in favor of the constitutionality of The Patient Protection and Affordable Care Act (aka ObamaCare).
So the big question is: how will this affect me? Well, here is a down and dirty outline of what the act will entail…
• You can stay on your parent’s insurance plan until you are 26 years old
• Medicare coverage changes (example…mammograms will be paid for)
• Insurance companies cannot deny you if you have a pre-existing condition or if you make a mistake on your application.
• More businesses will be required to provide healthcare for their employees or be faced with a penalty
AND…the most controversial issue…If an individual fails to purchase a government approved insurance plan, a penalty will be assessed (most likely on your annual tax return).

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