With the start of a new congress and second term for president Obama, the Affordable Care Act remains the law of the land.
Although the law doesn't fully take effect until 2014, many Americans are already feeling the kick back.
The major changes that come with the new healthcare law are that no one will be denied, and healthcare coverage costs cannot go up due to a pre-existing condition.
Matt Zanardo with Northland Retirement says if people don't follow the new law, and fail to get health insurance, they will be penalized. The penalty will cost them 2.5% of their total income.
Businesses large and small will feel the pinch, says Zanardo. Due to the extra costs, some employers may scale back hours so they don't have to provide benefits, they may implement sur charges, or increase costs.
But Zanardo says it is going to be families that feel it the most.
According to the Tax Foundation, the health care legislation will be paid for using extra revenue and spending cuts. $400 billion will come from new taxes, and $500 billion from cuts.
If you are wondering how these taxes and fees will impact you, visit Northland Retirement. They have put a calculator on their website that will tell you how much more you will be paying.
Click the video to your right to watch the full interview.