Which of the following is true of the Health Care Reform Act?
A)Excise taxes for pharmaceuticals are reduced.
B)Employers of large corporations are given subsidies for providing health insurance to their employees.
C)All employers are required to provide health insurance coverage to their employees.
D)Persons who do not obtain coverage are required to pay a tax penalty to the federal government.

Question

Quizplus · Accepted Answer

The Health Care Reform Act, also known as the Affordable Care Act, requires individuals to obtain health insurance coverage or pay a tax penalty to the federal government. This penalty is known as the individual shared responsibility payment. Option A is false as the Act actually imposes excise taxes on pharmaceutical manufacturers. Option B is partially true as only small employers are given tax credits for providing health insurance, not large corporations. Option C is false as the Act mandates that only certain employers with a certain number of employees are required to provide health insurance coverage to their employees, not all employers.

Which of the Following Is True of the Health Care