The math is harsh: The federal penalty for having no health insurance is set to jump to $695, and the Obama administration is being urged to highlight that cold fact in its new pitch for health law sign-ups.It's a steep fine, but when you consider what even crappy health insurance costs these days, accepting the fine is easier than paying the premium. I seem to remember being told otherwise:
That means the 2016 sign-up season starting Nov. 1 could see penalties become a bigger focus for millions of people who have remained eligible for coverage, but uninsured. They’re said to be squeezed for money, and skeptical about spending what they have on health insurance.
Until now, health overhaul supporters have stressed the benefits: taxpayer subsidies that pay roughly 70 percent of the monthly premium, financial protection against sudden illness or an accident, and access to regular preventive and follow-up medical care.
But in 2016, the penalty for being uninsured will rise to the greater of either $695 or 2.5 percent of taxable income. That’s for someone without coverage for a full 12 months. This year the comparable numbers are $325 or 2 percent of income.
Huh. That hasn't happened?
1 comment:
It's for the poor, of course. And it's not a fee, it's a tax, at least until you consider that taxes need to start in the House of Representatives, where it's a fee...and it helps the poor as well when 60 year old men and nuns get coverage for maternity and contraception.
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