People who think the change in administrations may save them from having to pay a fine for not having insurance in 2016 could be in for a rude surprise.
About 6.5 million Americans paid an average of $470 for not having health insurance in 2015, a requirement under the Affordable Care Act, the IRS reports.
Despite tax penalties, opponents of the nation’s health law are emboldened by President-elect Donald Trump’s vow to scrap it. Others wonder why they should bother signing up.
The plans, which do not qualify as coverage under the Affordable Care Act and put consumers at risk of a tax penalty, can siphon healthy people away from the online marketplaces because they are generally less expensive.
La ley federal de salud está poniendo a los agricultores en una situación difícil. Muchos contratistas que suministran trabajadores tienen que ofrecer cobertura de salud. El seguro es costoso, y los contratistas se preocupan sobre las consecuencias para la inmigración.
When people retire from federal government jobs, they can keep their federal plan as primary coverage but may face penalties for late Medicare sign-ups later on.
A consumer’s guide to the tax penalties for not having insurance.
Employers, insurers and government health programs such as Medicare and Medicaid are required to send taxpayers a form showing whether they provided health care but the government has pushed back the deadline for the forms.
The federal health law is putting farmers in a tough spot. Many contractors supplying workers have to offer health coverage. Insurance is costly, and contractors worry about immigration fallout.
Faced with the possibility of a tax penalty, many people scrambled to enroll, and the exchange extended the deadline for those who officially started the process as of Jan. 31.
Columnist Emily Bazar answers a consumer’s question: “You could get one of these plans, pay the uninsured tax penalty and still pay less.”
People sometimes put together a variety of policies, such as short-term and critical illness plans, instead of buying more expensive comprehensive health coverage. But they likely will face federal health law penalties.