Bill > HR4118

This bill, known as the SIMPLE Fairness Act, amends the Internal Revenue Code to postpone the start date for the penalty that individuals would otherwise face for not having health insurance that meets minimum essential coverage requirements. Specifically, it delays the imposition of this monthly penalty until January 1, 2015, meaning taxpayers will not be fined for not having qualifying health insurance for any month before that date. The bill also adjusts the timelines for when certain calculations related to the penalty, such as the percentage of income limitation and the applicable dollar amount, would begin to phase in and be adjusted for inflation, pushing these back by a year as well. These changes are effective for months beginning after December 31, 2013.