$ NEGLIGIBLE (2010)Excise Tax on Charitable Hospitals

$50,000 PER HOSPITAL if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS 21

$ NEGLIGIBLE (January 2012)Employer Reporting of Insurance on W-2

Preamble to taxing health benefits on INDIVIDUAL TAX RETURNS 22

$0.6 BILLION (January 2013)$500,000 Annual Executive Compensation Limit for Health Insurance Executives

$0.4 BILLION (2010)Blue Cross/Blue Shield Tax Hike

Special tax deduction for Blue Cross/ Blue Shield companies allowed only if 85% OR MORE OF PREMIUM REVENUES are spent on clinical services. 20

$4.5 BILLION (2010)Codi�cation of the Economic Doctrine

IRS CAN DISALLOW completely legal tax deductions and other tax-minimizing plans. 16

$1.4 BILLION (January 2011)HSA Withdrawal Tax Hike

Increases additional tax on NON-MEDICAL EARLY WITHDRAWALS FROM AN HAS from 10% to 20% 18

$2.7 BILLION (July 2010)Tax on Indoor Tanning Services

10% excise tax on Americans using INDOOR TANNING SALONS 17

$5 BILLION (January 2011)Medicine Cabinet Tax

Purchase of Non-Prescription and over-the-counter medicines no longer allowed with: 14

» Health Savings Accounts (HAS)» Flexible Spending Account (FSA)» Health Reimubrsement (HRA) pre-tax dollars

$4.5 BILLION (January 2013)Elimination of Tax for Employer-Provided Retirement Rx Drug Coverage in Coordination with Medicare Part D

$15.2 BILLION (January 2013)High Medical Bills Tax

Taxpayers who face HIGH MEDICAL EXPENSES will only be allowed a DEDUCTION FOR EXPENSES to the extent they EXCEED 10% of adjusted gross income (AGI), up from 7.5%. 12

$13.2 BILLION (January 2013)Flexible Spending Account Cap

CONTRIBUTIONS TO FSAS ARE REDUCED to $2,500 from $5,000 per plan year. 13

FSA CAP$2500

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This law imposes a NEW 2.3% EXCISE TAX

$20 BILLION (January 2013)Tax on Medical Device Manufacturers

Medical device manufacturers EMPLOY 360,000 PEOPLE IN 6000 plants across the country.

$22.2 BILLION (2010)Tax on Innovator Drug Companies

$2.3 BILLION ANNUAL TAX on the industry imposed relative to share of sales made that year 10

$10Billion

$10Billion

$23.6 BILLION (2010)“Black Liquor” Tax Hike

Tax increase on a type of BIO-FUEL

$32 BILLION (January 2018)Excise Tax on Comprehensive Health Insurance Plans

NEW 40% EXCISE TAXOn “Cadillac” health insurance 8 $10,200 / SINGLE $27,500 / FAMILY

Early retirees and high-risk professionals$11,500 / SINGLE $29,450 / FAMILY

CPI +1 percentage point indexed

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$65 BILLION* (January 2014)Individual Mandate Excise Tax*Combined total with Employer Mandate Tax

$65 BILLION* (January 2014)Employer Mandate Tax*Combined total with Individual Mandate Excise Tax

Starting in 2014, any individual NOT BUYING “qualifying” health insurance MUST PAY an income surtax according to the higher of the following: 3

2014

ADULT

1% AGI / $95 1% AGI / $190 1% AGI / $285

2015 2% AGI / $325 2% AGI / $650 2% AGI / $975

2016 2.5% AGI / $695 2.5% AGI / $1390 2.5% AGI / $2085

$60.1 BILLION (January 2014)Tax on Health Insurers

Annual tax ON THE INDUSTRY IMPOSED relative to health insurance premiums collected that year 6

APPLIES TO 50+ EMPLOYEES $400

$600

30-60 DAYS

60+ D

AYS

Beginning in 2015, an employer must offer coverage or pay a $2,000 PENALTY 4 for each full-time employee. 5

TAX PER EMPLOYEE WHEN EMPLOYER REQUIRES WAITING

PERIOD FOR HEALTH COVERAGE

$123 BILLION (January 2013)Surtax on Investment Income

New 3.8% SURTAX ON INVESTMENT INCOME earned in households making at least $250,000 ($200,000 single) 1

BONDS

STOCKS

$86.8 BILLION (January 2013)Hike in Medicare Payroll Tax 2

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‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13

ObamaCare

THE TAXING TRUTH ABOUTTHE TAXING TRUTH ABOUT

20 NEW OR HIGHER TAXES on American families and small businesses.$500 billion+ in tax hikes (over the next 10 years).

Resources

http://www.atr.org/full-list-obamacare-tax-hikes-listed-a7010#ixzz1zTXuZUYlhttp://blog.heritage.org/2012/08/20/obamacares-18-new-tax-hikes/http://www.bbdcpa.com/articles/tax-provisions-in-new-patient-protection-and-affordable-care-act/

BROUGHT TO YOU BYSM

1 Reconciliation Act, Page: 87-93 2 PPACA, Reconciliation Act, Page: 2000-2003; 87-933 Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). PPACA, Page: 317-3374 Applies only if at least one full-time employee receives a premium tax credit or cost-sharing reductions. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. PPACA, Page: 345-3465 Not counting the first 30 employees6 Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. 9 PPACA, Page: 1,986-1,993 7 PPACA, Page: 1,941-1,956 8 An unusually expensive health insurance plan that that carries premiums higher than $8,000 for individuals or $21,000 for families.9 Reconciliation Act, Page: 105 10 PPACA, Page: 1,971-1,980

11 Exempts items retailing for <$100. PPACA, Page: 1,980-1,986 12 Taxpayers ages 65+ can still use the old 7.5% threshold in 2013-2016 only. PPACA, Page: 1,994-1,99513 PPACA, Page: 2,388-2,38914 PPACA, Page: 1,957-1,959 15 PPACA, Page: 1,994 16 Applies if the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Reconciliation Act, Page: 108-113 17 PPACA, Page: 2,397-2,399 18 This disadvantages them relative to IRAs and other tax-advantaged accounts, which remain at 10%. PPACA, Page: 1,959 19 PPACA, Page: 1,995-2,000 20 PPACA, Page: 2,004 21 PPACA, Page: 1,961-1,971 22 PPACA, Page: 1,957

Bill References and Exemptions: