Federal health officials announced the computer system allowing Americans to sign-up for insurance under the Affordable Care Act is ready ahead of an Oct. 1 deadline.
Health-care 'data hub' is ready, White House officials say (The Washington Post)
- The "data hub," is a system that will verify people's Social Security numbers, immigration status and other information when they go to government websites to buy health plans and apply for government subsidies.
- The computer system will be able to fact-check parts of a person's application in real time to determine their eligibility for subsidies or Medicaid.
Obamacare tax guide for individuals (CNN Money)
- Most Americans will be required to buy health insurance in 2014 or pay a penalty. That penalty will be equal to a percentage of one's household income, or whichever is greater. The penalty starts at $95 per person or 1% of income in 2014; rises to $325 or 2% of income in 2015; and then increases to $695 or 2.5% of income in 2016.
- Federal tax subsidy: Anyone making up to 400% of the poverty line qualifies. In 2014, an individual making $45,960 or a family of four with household income up to $94,200 is eligible.
- Medicare surtax on wages and investment income: Earners of more than $200,000 annual income ($250,000 if married) will be taxed another 0.9% on top of the 1.45% Medicare tax they already pay.