How Much Will the Tax Be if You Don't Buy Health Insurance.

[Yagents]

It's $95 a year per adult penalty or 1% of income, whichever is higher. $285 for a family
Then $325/yr or 2%, $975/family
then $695/ $2085 or 2.5% in 2016.

Anybody see this new calculator....What does the Supreme Court's health-care ruling mean for me? - The Washington Post

 

[AllenChicago]

Why are you multiplying by 12?

OOPS..my bad. Those are annual penalties!?! A better penalty would be that if you don't have health insurance (or the ability to pay your medical bills) the hospital/doctors should be legally allowed to not treat you. $95 annually is a rediculously small penalty.

 

[Yagents]

Basically, the penalty will be a max of 2.5% vs the cost of insurance equal to 9-10% of MAGI. What a joke.

To avoid penalty, it must be at least a bronze level. So no LB/discount plans to avoid penalty.

 

[stuy119]

The slap in the face is the people who will want HDHP's, but will still have to pay the tax.

Like me.

 

[LOM58]

Thank God Obama is saving me from my irresponsible ways. My $10K deductible plan that I have never used in over 20 years will now be replaced by a low deductible, extremely more expensive plan that I will probably never use. Thanks guys!

 

[somarco]

$95 annually is a rediculously small penalty.

Yes. Matches the ridiculously small minds in DC that crafted this law.

 

[Crabcake Johnny]

There's a lot of talk about sitting out and paying the penalty. I think in reality very few will choose that option. Fewer will choose it to avoid paying premiums if they can afford the premiums.

We all know that's a very dangerous roll of the dice. I believe most states will adopt enrollment periods - as will the feds if they administer the exchanges. It won't be as simple as waiting on the sidelines until you get sick then grabbing a policy.

Depending on which source you choose, MA has an insured rate between 92% and 98%. Very few are opting to sit out and pay the penalty.

 

[HealthGuy]

Is there some type of a marriage penalty in this bad boy? Meaning that if you are married, you get less of a chance for a subsidy in the exchange vs. being a single person? What a complete cluster F for married people...I think I read somewhere that married people are going to get screwed with this Obamacare vs. single people. Anybody wanna tackle that one?

 

[Ann H]

Is there some type of a marriage penalty in this bad boy? Meaning that if you are married, you get less of a chance for a subsidy in the exchange vs. being a single person? What a complete cluster F for married people...I think I read somewhere that married people are going to get screwed with this Obamacare vs. single people. Anybody wanna tackle that one?

Yes, there is a marriage/family penalty. If you are eligible for a subsidy, but you are also eligible to be enrolled in any group plan (including your spouse's employer's group plan), then you don't get the subsidy. It's the same thing for children who may be eligible to be on a parent's group plan.

 

[IndividualHealthGuy]

Well then that hurts one of the groups at the core of the DNC's voting block. Teachers have to pay a crazy amount to add their children/spouse to their school district policy most of the time, so they don't get a subsidy for buying exchange plans for their dependents? But I thought teachers were well underpaid?