The Supreme Court upheld the nationwide tax subsidies underpinning President Barack Obama’s health care overhaul. The justices said in a 6-3 ruling that the subsidies that 8.7 million people currently receive to make insurance affordable do not depend on where they live.
Nationally, 10.2 million people have signed up for the health insurance under the Affordable Care Ace (ACA) health overhaul. That includes the 8.7 million people who are receiving an average subsidy of $272 a month to help pay their insurance premiums.
Our firm will continue to stay abreast of the details of this controversial and complex law, especially as it relates to the tax implications for our clients.