Health Care Reform Could Cost You

Look for new taxes and benefit changes as the law rolls out.

Far from being the last word, the Supreme Court’s decision on the health care reform law set off a flurry of activity. States, employers and insurers are scrambling to prepare for the next phases of the law’s rollout, even as Republican lawmakers ramp up efforts to repeal it. Expect the law to become a major election issue.

In the meantime, many states that delayed setting up health insurance exchanges are moving ahead to meet tight deadlines. These markets, where people seeking individual or small-group coverage can buy policies and apply income-based subsidies to their costs, must be up and running by 2014. However, governors of a few states, including Florida and Louisiana, have said they will not set up exchanges, in effect leaving the task to the feds. Those states also balked at expanding Medicaid coverage, which the Supreme Court ruled they could do without penalty. Here’s what to expect:

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.