Understanding Obamacare

JOPLIN, MO.--- Experts are calling it ever changing.

"The rules are changing daily, weekly," said Russ Kemp, Employer Advantage.

They've spent hours combing through this lengthy law known as "Obamacare."  

"We have devoted and spent a lot of time trying to figure out the law. It is an 1,800 page law," said Kemp.

Even with constant changes, there is some clarity. Starting January 1st, everyone will be required to have health insurance.

"The individual mandate is still in place for all Americans that they are to have health insurance coverage that meets the requirements or face fines and penalties," said Kemp.

Although employers will not be required to provide medical insurance until 2015, anyone without it will see increasing fines.

"The penalty is being phased in over several years. Next year, it is 1% of your income or 95 dollars if you can't show you have coverage," said Kemp.

After that, rates will keep going up and up.

"The following year, it's 2% and 325 dollars. The next year, it's 2.5 % or 695 dollars. Whichever is greater," said Kemp.

Whether the goals of the federal government will be met remains a mystery.

"The goal of the federal government was to have everyone insured so that they can go get affordable care. Now, the insurance and that care, we don't know how affordable that's really going to be in the long run," said Kemp.

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