Obamacare Faces Constitutional Challenge
The Supreme Court will hear almost 6 hours of oral argument on the issue of whether or not the Patient Protection and Affordable Care Act/ ‘Obamacare’ violates the interstate commerce provisions of the US Constitution, beginning on March 26, 2012.
The law will impose an annual penalty of $95, or up to 1% of income, whichever is greater, on persons who don’t secure coverage. The fine will rise to 2.5% or $695 by 2016. There are exemptions to the penalty for religious beliefs and in cases of financial hardship. This provision of the law is scheduled to go into effect Jan 1, 2014. Because the ever rising cost of medical care plays a big role in many of my bankruptcy client’s lives, often forcing them into bankruptcy, I am trying to study the provisions of Obamacare with an eye toward advising my clients.