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August 30, 2013 | Leave a Comment
Beginning in 2014, the Affordable Care Act (ACA) requires most individuals to obtain acceptable health insurance coverage for themselves and their family members or pay a penalty. This rule is often referred to as the “individual mandate.” Individuals may be eligible for an exemption from the penalty in certain circumstances.
On Aug. 27, 2013, the Internal Revenue Service (IRS) issued final regulations on the individual mandate penalties. These regulations generally finalize the proposed standards without significant changes. Click here to see the notice.