$695 or 2.5 percent - this year's fine.
Posted by robgambrill 9 years, 6 months ago to Government
The government will fine (err tax?) everyone without Obamacare $695 or 2.5% of income next year. This is for the common good.
The common good seems really good for Insurance and Health Care companies. Their profits are at an all time high.
You will need to buy insurance you may not need or want or you will have to pay the fine (uh tax). This year they seem eager to make people aware of the fine (even though the supreme court said it was a tax) to get them to comply..
The common good seems really good for Insurance and Health Care companies. Their profits are at an all time high.
You will need to buy insurance you may not need or want or you will have to pay the fine (uh tax). This year they seem eager to make people aware of the fine (even though the supreme court said it was a tax) to get them to comply..
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I wonder if any churches, professional orgs, etc, will set up some kind of group deal where you pay in to cover a maximum of one year's worth of anyone's medical expenses. That way everyone in the group, who doesn't earn enough to have pay the 2.5% tax, can just pay the $700/yr penalty.
I suspect they'll address that by making the tax high enough on high-incomes and the subsidy high enough on low incomes that such a scheme is not worthwhile.
I do the same thing, although I'm on the same high-deductible plan I've been on for years. It's not exactly the same b/c they've been having to add a few PPACA elements. I haven't made a claim since our first baby had to go to intensive care on his first day of life. After that treatment, we've all been healthy since then.
The problem we've had is occasionally the billing department getting confused and cranky about our paying cash. The doctors, who own the partnership, quickly tell them, "no, no, we like cash."
As the fines go up, I would like to find something that I get something out of, as opposed to just paying for insurance for others. Currently, I just pay (the rare) doctor bills out of pocket (and they seem to like to deal if you pay cash and they don't have to deal with the insurance companies).
What a mess!
I could take government handouts and get "free" or "subsidized" insurance, but I have never taken charity in my life. Also I am morally opposed to socialism, If the APCA isn't "to each according to his ability, and to each according to his need", what is?
You are right, I will need either to save a ton of money or at least insure myself for catastrophic illness or injury so I am not a burden to others. I am too "old" to be allowed to just buy catastrophic insurance. Get the government out of the way, and I'll go shopping.
In my 20s I bought it b/c I was broke and wouldn't be able to afford care if I got sick. I was young, healthy, and all my numbers were good, so my premium was $50/mo for a policy with a $5k deductible. (It would have been more under PPACA b/c of no underwriting.)
Now I'm 40 y/o and pay $500/mo for four people with a $10k deductible on an underwritten (i.e. non-PPACA-compliant plan). It will go up to about $900/mo when we have to go to a PPACA complaint plan. We have the insurance so that some major medical problem doesn't wipe out a chunk of our wealth.
Even if it's not required, we plan to keep health insurance until our net worth is at least $20M. We're nowhere near that.
What is the scenario where someone does not want to insurance against health problems but finds something about the requirement to buy it onerous? The only scenario I can think of is someone at the end of life, knows he doesn't want treatments, and has the money set aside to cover palliative care. I doubt the young, broke, and healthy who say they're willing to take their chances they won't get an injury or illness that's treatable but expensive to treat.
I will not comply with this law. They can tax me.