President Obama has signed into law a House bill that changes the definition of modified adjusted gross income under the healthcare reform law and repeals a 3 percent withholding provision under the Tax Increase Prevention and Reconciliation Act of 2005, according to a Hill report.
Under the healthcare reform law, modified adjusted gross income will be used to determine financial eligibility for Medicaid and the State Children's Health Insurance Program beginning in 2014. The newly signed bill now reforms the definition of modified adjusted gross income to include both taxable and nontaxable Social Security benefits. It also repeals the 3 percent withholding provision on some payments made to government contractors.
The legislation garnered support from both parties in the House as well as the Senate.
Under the healthcare reform law, modified adjusted gross income will be used to determine financial eligibility for Medicaid and the State Children's Health Insurance Program beginning in 2014. The newly signed bill now reforms the definition of modified adjusted gross income to include both taxable and nontaxable Social Security benefits. It also repeals the 3 percent withholding provision on some payments made to government contractors.
The legislation garnered support from both parties in the House as well as the Senate.
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