So, today is the last day to sign up for Obamacare, and people cant sign up. We were discussing the penalty earlier, and how it is cheaper to pay the penalty. Not so fast: heres what I discovered: The fee in 2014 is 1 percent of your annual income or $95 per person, whichever is higher. The fee for uninsured children is $47.50 each, with a maximum of $285 per family. By 2016 those fees jump to up to $695 per person or 2.5 percent of income, whichever is larger. The fee will be billed through the IRS. If you are uninsured, you are still entitled to health care. However, you will not qualify for discounts, and payment waivers due to income as you would have qualified for subsidies had you enrolled. You potentially will be billed at full rates, with most of these costs being withheld from your tax return. Legally abiding policy holders will eat those costs additionally in higher premiums and co-pays. :/ Awesome. Socialism is great!!
Posted on: Tue, 01 Apr 2014 02:58:51 +0000
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