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The Affordable Care Act created an annual fee on certain health insurance providers beginning in 2014. On Nov. 26, 2013, the Treasury Department and IRS issued final regulations on this annual fee imposed on covered entities engaged in the business of providing health insurance for United States health risks.
The Affordable Care Act (also known as ACA or Obamacare) is legislation passed in 2010 that changed how Americans enroll in and receive healthcare coverage. The legislation is overseen by the United States Department of Health and Human Services. Download this free guide.