President Obama has empowered the IRS to enforce this law and oversee every American’s health insurance decisions. It is deeply concerning that all Americans will now be asked to turn over the private health insurance information about their children and families to a disgraced organization that has admitted to abusing the power which was entrusted to them. This law will require thousands of new IRS agents and billions of dollars to enforce the law.
Elements of the law IRS will enforce:
- Individual Mandate: Starting in 2014, individuals will be required to carry health insurance through one of several means. Individuals will certify their health insurance coverage via their tax return. For any individual who does not meet the requirement, the individual will pay a tax penalty to the IRS.
- Employer Mandate: If an employer has more than 50 employees and fails to provide insurance to their employees, the employer must pay a $2,000 per employee fine to the IRS.
- Health Insurance Exchange Information: As part of the health insurance exchange application process, individual’s data will be cross-referenced with IRS records to determine income eligibility. Additionally, if the individual is employed, the IRS will be responsible for cross-referencing the employee’s W-2 income from their employer to determine if the insurance is “affordable.”
- Responsible for collecting over 21 different taxes: PPACA included 21 different tax hikes such as the Medical Device Tax and the new Medicare tax on Unearned Income. The IRS will be responsible for collecting all of these new tax provisions totaling more than $500 billion.