Question

Healthcare Reform

How will ACA affect my taxes in 2013?

A Answers (1)

  • AJoane Goodroe, Nursing, answered

    The Affordable Care Act (referred to as Obamacare) will increase taxes on worker’s wages in 2013.  Employers already take out 7.65 percent of workers' wages to support the elderly and the disabled. Of that, 1.45 percent goes toward paying Medicare's hospital bills.  Obamacare increases the Medicare hospital tax by 0.9 percent. 

    In addition, for anyone earning over $200,000, there is a new a new 3.8 percent tax on investment income.

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How will ACA affect my taxes in 2013?