Affordable Healthcare Act Question?

You’ll pay whichever of these amounts is higher:

1. 1% of your yearly HOUSEHOLD income. The maximum penalty is the national average yearly premium for a bronze plan. ----- OR ------

2. $95 PER PERSON for the year ($47.50 per child under 18). The maximum penalty per family using this method is $285.

The fee increases every year. In 2015 it’s 2% of income or $325 per person. In 2016 and later years it’s 2.5% of income or $695 per person. After that it is adjusted for inflation.

If you’re uninsured for just part of the year, 1/12 of the yearly penalty applies to each month you’re uninsured. If you’re uninsured for less than 3 months, you don’t have a make a payment

unlikely anyone will be penalized. too much bad press

like a "do not spit on the sidewalk sign"

remember if ONLY sick people or people whose houses are already on fire get insurance the price of insurance is huge! the whole idea is to spread the risk so everyone pays a little.

not unlike needing car insurance if you drive

I wouldn't put it past our government to tax you on your household income, however in all liklihood, you will be taxed on your individual income. The IRS is provided a copy of your W-2/1099's so they know how much you make (on paper) and should be able to adjust the penalty accordingly.

married couples have begun to consider "divorcing" for the sake of saving money - Obama has screwed the pooch

Nikki - said it best "divorce American style"