Supreme Court Upholds Individual Mandate

Soon everyone will need to carry health insurance.

The Supreme Court upheld the individual mandate in the Patient Protection and Affordable Care Act on Thursday, July 28, 2012. In the Court’s 5-4 majority opinion, they concluded that the mandate is valid under the Constitution’s Taxing Clause. The individual mandate requires most U.S. citizens and legal residents to maintain minimum health insurance coverage beginning in 2014.

Do you have questions regarding how this mandate will affect small business owners? Email Ashley Clonan, and the tax professionals at H&S Companies will answer your questions via our blog.