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Sarah Yang

What The Supreme Court Ruling On Health Care Means For Your Family

PUBLISHED ON 06/28/2012

This morning, the Supreme Court upheld the Affordable Care Act (also known as Obamacare), ruling that it is, in fact, constitutional. The health care law seeks to extend health insurance to millions of Americans, but it also contains a controversial mandate that requires all individuals who aren't covered by an employer or government-sponsored insurance plan to obtain health insurance or pay a penalty fee.

-No insurance? You'll pay higher taxes. The mandate requiring everyone to have health insurance will exist as a tax. So if you refuse to obtain health insurance, you might end up paying a higher tax.

-It's no biggie if you or someone in your family has a chronic condition. If you have a pre-existing condition, you'll be able to receive health insurance and you won't have to pay more because of your health history. And yes, your employer is required to provide you with health insurance.

-Low on funds? You'll get help. If you're having trouble financially, the government will help you pay for health care. You'll get free coverage if you earn up to 133% of the federal poverty level. And if you earn 133% to 400%, you'll be eligible for federal aid so you can buy coverage.

-Goodbye gender rating. In some states, women have to pay more for insurance than men. With the ACA, everyone will pay an equal amount.

What do you think of the health care ruling? How do you think it will affect your family? <div

PHOTO: Veer / The Bump