Question: What will the Affordable Care Act mean to the average American taxpayer?
Answer: For the "vast majority" of Americans, the health care law "won't mean sending more money to the IRS," according to an article by the Associated Press.
Other bullet points from the AP article:
Last week, the U.S. Senate Committee on Health, Education, Labor and Pensions released an extensive report, For Profit Higher Education, that found that federal taxpayers are investing billions of dollars a year – $32 billion in 2009-10 – in for-profit colleges.
Under the Affordable Care Act, Medicaid eligibility will be expanded to all U.S. citizens under the age of 65 with incomes less than 138 percent of the federal poverty level beginning in 2014 – unless some states decide to opt out of the expansion. That possibility arose as a result of the Supreme Court ruling on the ACA.
Some governors have already announced their intention to drop out, citing budget concerns but also partly for political reasons. Colorado and many others states will make their decisions after getting cost estimates.
Americans owe more than $150 billion in outstanding private student loan debt, according to a report to Congress by the Consumer Financial Protection Bureau (CFPB). The report estimates that the student loan market grew from less than $5 billion in 2001 to more than $20 billion in 2008. Last year, it fell sharply, to less than $6 billion, after tighter underwriting standards took effect.
The Supreme Court's recent ruling on the Affordable Care Act allows states to opt out of the health reform law's Medicaid expansion without losing federal funding for their entire Medicaid program. The expansion would provide coverage to low-income adults and children.
Several governors quickly announced their intention to opt out, citing state budget concerns. Gov. John Hickenlooper has not publicly stated a position on these expansions.