15 NEW taxes thanks to Obamacare

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http://www.businessinsider.com/healt...lth-coverage-1

Excise tax on high cost employer-sponsored health coverage

Description: A 40% tax on health insurance plans exceeding determined levels. Those levels are projected for 2013 to be $8,500 for self only and $23,000 for any other level.


Increase in additional tax on distributions from HSAs and Archer MSAs not used for qualified medical expenses

Description: An increase from 10% to 20% on taxes of money in a health savings account not used for qualified medical expenses. For Archer medical savings accounts, an increase from 15% to 20%.


A tax on failing hospitals

Description: A $50,000 tax on hospital organizations, which fail to meet described quality requirements.


Imposition of annual fee on branded prescription pharmaceutical manufacturers and importers

Description: A fee based upon the sales of pharmaceutical companies in relation to the total sale of such pharmaceutical products to the public.


Imposition of annual fee on medical device manufacturers and importers

Description: Medical device manufacturers must pay a fee in relation to the sales of their product in the marketplace and the total sales of devices.


Imposition of annual fee on health insurance providers

Description: A fee applied to all health insurance providers based upon net premiums and any third party fees associated with the administration of those programs.


Additional hospital insurance tax on high-income taxpayers

Description: High income tax payers, making on a joint return over $250,000 and a standard return over $200,000, are required to pay an additional 0.5% of wages. This applies to both self-employed, and regularly employed individuals.


Excise tax on elective cosmetic medical procedures

Description: A tax of 5% is levied upon the am mount paid for any cosmetic surgery. This does not include the need for such surgeries created by trauma or a disfiguring disease. If the tax is not collected by that professional completing the procedure, their business is still liable for the requirement.


Tax on individuals without acceptable health care coverage

Description: A 2.5% income tax on individuals who do not have health care coverage, limited to a cost less than the average national health care premium.


Health insurance fee

Description: For self-insured plans, a fee on the the sponsor whether that is the employer or the employee organization. Also, a fee on the issuer of every health care plan imposed.


Tax on non-electing businesses who refuse to supply health care

Description: For firms refusing to pay health insurance, but not meeting required exclusions, an 8% tax on wages will be applied.


Imposition of tax on indoor tanning

Description: A tax of 10% on the amount paid for any tanning service.


1% surcharge on individuals making more than $350,000

Description:A 1% tax increase for individuals making between $350,000 and $500,000.


1.5% surcharge on individuals making more than $500,000

Description: A 1.5% tax increase for individuals making between $500,000 and $1 million.


5.4% surcharge on individuals making more than $1 million

Description: A 5.4% increase for individuals making more than $1 million.