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ObamaCare surcharge
An extra charge for goods and services some businesses in the U.S. plan to use to offset cost increases from ObamaCare. ObamaCare is the unofficial name for the Patient Protection and Affordable Care Act which was signed into law on March 23, 2010. The law aims to have every legal U.S. resident insured, requiring all businesses with over 50 employees to purchase health insurance for their staff or pay a penalty in the form of a tax.
As a result of the ObamaCare implementations, some low-margin businesses such as the food industry may find it necessary to past cost increases onto their customers in the form of a surcharge.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Insurance
- Category: Health insurance
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