Important Info on the Opt Out Penalty
The fee for not having health insurance in 2016
Percentage of income:
[You should be able to start signing up for Obamacare again around Nov 15th 2016; in some cases, you can sign up sooner. Small businesses can also sign up now. Info here.]
Important Info on the Opt Out Penalty:
It's sometimes called the "health insurance penalty," "fine," "individual responsibility payment" or "individual mandate."
If you are required to get health insurance, and you don't have what the government calls "minimum essential coverage," you have to pay the penalty.
See below to learn if you can avoid the penalty:
Tuesday, November 12, 2013
The Government Didn't Talk Much About the Opt Out Penalty in Its Obamacare Ads
"But there is also the dirty little secret of the penalty: It is a bit of a chimera, because the federal government cannot use its usual tools like fines, liens or criminal prosecutions to punish people who do not pay it. The penalty is supposed to be reported and paid with the income tax returns of those who do not buy insurance, but the government has not said how it will collect from those who owe it but do not pay it, though the law allows it to deduct from any income tax refunds."
Posted by Orcinus Media at 4:16 PM