Anthony Brian Logan
@AnthonyBrianLogan·1.1M subscribers·6.1K videos
Obamacare PENALTY Hike 2016 - How Will It Affect The Common American?
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January 2, 2016
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7:14Now PlayingThe 2016 Affordable Care Act (Obamacare) penalty for not having health insurance in 2015 has risen to $695 or 2.5 of income, whichever is the higher amount. The penalty is only for those who make above a certain amount of money and doesn't count if you had insurance for at least 9 months of the year. It is only collectible through Tax Returns, not through traditional means the IRS may have at their disposal, such as bank account garnishing, wage garnishing, and placing a lean on a home mortgage.
Many Americans fall within a tricky gray area between making too much money to qualify for government assistance (which would exclude them from Obamacare penalty) and not making enough money to be able to afford the base level Obamacare individual premium of $2411 per year. Many of these Americans simply allow the penalty to be taken from their tax return rather than paying the premium because the cost is less, and they to keep as many of their own dollar as possible.
Also, the base level "bronze" plan in Obamacare is little more than catastrophic coverage. Maybe if a person has a gruesome injury that is not covered in a workplace or by the place where it happened. Some deductibles have been reported as high as $10,000, with many loopholes that sometimes make the person pay more money than the deductible out of their pocket before the insurance even kicks in!
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Affordable Care Act Penalties Set to Skyrocket for Americans Without Health Insurance
Can You Really Ignore the Obamacare Penalty?
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