Which are you planning on doing? The time will soon be here where there will be a tax penalty to pay if you do not have health insurance. You may purchase health insurance directly from a provider, through a state created insurance exchange ( with or without qualifying for credits, i.e.discounts), or through a company group plan!
It looks like, from the following article that the penalty is going up! So do do your homework.
Here is info written by Ricardo Alonso-Zaldivar on September 24, 2012 in the Insurance Journal:
Here is info written by Ricardo Alonso-Zaldivar on September 24, 2012 in the Insurance Journal:
"Nearly 6 million Americans — significantly more than first estimated— will face a tax penalty under President Barack Obama’s health overhaul for not getting insurance, congressional analysts said. Most would be in the middle class.
The new estimate amounts to an inconvenient fact for the administration, a reminder of what critics see as broken promises.
The numbers from the nonpartisan Congressional Budget Office are 50 percent higher than a previous projection by the same office in 2010, shortly after the law passed. The earlier estimate found 4 million people would be affected in 2016, when the penalty is fully in effect.
That’s still only a sliver of the population, given that more than 150 million people currently are covered by employer plans. Nonetheless, in his first campaign for the White House, Obama pledged not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000.
And the budget office analysis found that nearly 80 percent of those who’ll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four.
Average penalty: about $1,200 in 2016."
You may read the entire article here:
