IRS issues final rules on Obamacare's 'individual mandate'

(Reuters) - The Internal Revenue Service issued final rules on Tuesday for the individual mandate of President Barack Obama's healthcare overhaul, one of the most contentious elements of the U.S. law set to go into effect next year. A centerpiece of Affordable Care Act, also known as Obamacare, is a requirement that all individuals carry some minimum health insurance or pay a tax. The new system aims to provide insurance through state marketplaces and subsidies for tens of millions of Americans who lack it.