The Patient Protection and Affordable Care Act, better known as Obamacare, includes a number of new taxes and fees for individuals and businesses throughout the country. As 2014 begins, you should be aware of some of the newer Obamacare tax provisions that have just taken effect.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at some of these new taxes and fees that various parties will pay. Dan notes that a 2% tax on every health plan will help the government pay for Obamacare, while a $2 fee for each policy will go to a fund for medical research. In addition, WellPoint (NYSE:ANTM), UnitedHealth (NYSE:UNH), Cigna (NYSE:CI), and other health insurers that take advantage of the Healthcare.gov website have to pay a 3.5% user fee. Dan notes that investors might initially fear that those three insurers, along with Aetna (NYSE:AET), Humana (NYSE:HUM), and other players in the industry, will bear the brunt of these taxes and fees. But some companies have already started passing those costs on to policyholders, potentially putting you on the hook to pay them.
Make sure you know all there is to know about Obamacare
Obamacare has plenty of provisions that might surprise you. But in just minutes, you can learn the critical facts you need to know in a special free report called Everything You Need to Know About Obamacare. This free guide contains the key information and money-making advice that every American must know. Please click here to access your free copy.
Fool contributor Dan Caplinger has no position in any stocks mentioned. The Motley Fool recommends UnitedHealth Group and WellPoint. The Motley Fool owns shares of WellPoint. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.