Editor's Note: The following summary has been structured by HTG Investment Advisors of New Canaan, Connecticut: 

The Supreme Court's recent decision to uphold the Patient Protection and Affordable Care Act argues for a refresher on some of the bill's key tax provisions. The list below is meant to highlight some provisions which are relevant for, in some cases, high income investors and is not an exhaustive summary. 

A new tax on individuals who don't obtain adequate health coverage by 2014 — this is often referred to as the individual mandate. The tax is to be phased in over three years, starting at the greater of $95, or 1% of income, in 2014, and rising to the greater of $695, or 2.5% of gross income, in 2016.

Starting in 2013, a 0.9% Medicare surtax will apply to wages in excess of $200,000 for single taxpayers and over $250,000 for married couples.   This means that for every $1,000 over the limit, an additional $9 of Medicare payroll tax will be collected.  If you are married filing joint and your individual income is under the $200,000 limit but jointly over the $250,000, you will need to either have your employer withhold extra taxes or pay estimated taxes to cover the shortfall.

Also, for the first time ever, a Medicare tax will apply to investment income of high earners. The 3.8% levy will hit the lesser of (1) unearned income or (2) the amount by which adjusted gross income (AGI) exceeds the $200,000 (single) or $250,000 (married) threshold amounts. The new law defines unearned income as interest, dividends, capital gains, annuity withdrawals, royalties, net rent income and other passive income.

Tax-exempt interest is not included, nor are qualified pensions and withdrawals from IRA/401(k) accounts.

Example: Sally Single has adjusted gross income of $275,000 based on $50,000 of investment income and $225,000 of earned income. She will owe 3.8% tax on the lesser of $75,000 ($275,000-$200,000) or $50,000. She also will pay 0.9% extra Medicare tax on $25,000 ($225,000-$200,000). Total extra tax bill: $1,900 + $225.

The 3.8% Medicare surtax will also affect trusts and estates with undistributed net investment income, provided they are in the highest income tax bracket for trusts, which for next year will start around $12,000.

A hike in the 7.5% floor on itemized deductions for medical expenses to 10% will start in 2013. Taxpayers age 65 and over are exempt from the cutback through 2016.

The penalty for non-qualified distributions from health savings accounts will double to 20%. This already began in 2011.

The annual amount that employees can contribute to health care flexible spending accounts will be limited to $2,500 starting in 2013. 

©2012 HTG Investment Advisors wih permission for SeniorWomen.com

The IRS has provided a page on the Affordable Health Care Act, including the Small Business Health Care Tax Credit: 

This new credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees and is specifically targeted for those with low- and moderate-income workers. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. In general, the credit is available to small employers that pay at least half the cost of single coverage for their employees. Learn more by browsing our page on the Small Business Health Care Tax Credit for Small Employers and our news release.

For other provisions for the consult the The Commonwealth Fund Health Care Reform Resources — The Health Reform Resource Center: What's in the Affordable Care Act?  View the timeline for the highlights of the law, or use the "Find Health Reform Provisions" tool to search for specific provisions by year, category, and/or stakeholder group.