So employers get penalized/fined for not buying this insurance, and employees/citizens get taxed more if they don't buy the insurance.
(3) CONTRIBUTION IN LIEU OF COVERAGE.—Beginning with Y2, if an employee declines such offer but otherwise obtains coverage in an
Exchange-participating health benefits plan (other than by reason of being covered by family coverage as a spouse or dependent of the primary
insured), the employer shall make a timely contribution to the Health Insurance Exchange with respect to each such employee in accordance with section
313.
ACK ! A "timely contribution"????
SEC. 313. EMPLOYER CONTRIBUTIONS IN LIEU OF COVERAGE. (a) IN GENERAL.—A contribution is made in accordance with this section with respect to an
employee if such contribution is equal to an amount equal to 8 percent of the average wages paid by the employer during the period of enrollment
(determined by taking into account all employees of the employer and in such manner as the Commissioner provides, including rules providing for the
appropriate aggregation of related employers). Any such contribution— (1) shall be paid to the Health Choices Commissioner for deposit into the
Health Insurance Exchange Trust Fund, and (2) shall not be applied against the premium of the employee under the Exchange- participating health
benefits plan in which the employee is enrolled.
(b) SPECIAL RULES FOR SMALL EMPLOYERS.— (1) IN GENERAL.—In the case of any employer who is a small employer for any calendar year, subsection (a)
shall be applied by substituting the applicable percentage determined in accordance with the following table for ‘‘8 percent’’: If the annual
payroll of such employer for the preceding calendar year:
The applicable percentage is:
Does not exceed $250,000 ...... 0 percent
Exceeds $250,000, but does not exceed $300,000 ........ 2 percent
Exceeds $300,000, but does not exceed $350,000............ 4 percent
Exceeds $350,000, but does not exceed $400,000....... 6 percent
Health Insurance Exchange Trust Fund??
This is sounding more and more to me like a Chicago styled "Play or Pay" scheme?
[edit on 18-3-2010 by nomorecruelty]