- "monitor individuals and businesses’ health insurance statuses through the mandatory reporting the bill requires. Under the law, every individual and most businesses are required to report to the IRS, on their tax returns, whether they have purchased or provided the required level of coverage and disclose to the IRS which months, if any, in which they failed to do so.
Using this information, the IRS would then determine whether an employer or individual falls under the mandate, which contains exceptions for religious conscience, hardship, incarcerated persons, and members of Indian tribes.
If either an individual or a business has failed to comply with this mandate for any month out of the year, they are required to pay a separate tax to the IRS. For individuals this is a maximum of $750 per person (up to $2,250 per household) and $750 per uncovered employee for businesses. Article here.
Illegal immigrants are exempt from all the taxes and penalties in this law.
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