Take your household income, then subtract $20,000 if you have a family and $10,000 if you don't. Multiply that number by 1%. You'll owe the greater of the resulting amount and the minimum penalty mentioned above. Probably. The exception to this rule is that no one will be required to pay more than the average annual premium for a bronze plan (lowest-cost option) in Obamacare.
did you forget the part where you get to subtract 10K at a minimum from your income?
Im guessing you just plain didnt know, which would be par for the course
And for a healthy twenty-five year old, I believe the average cost of the highest deductible bronze plan is under $190/month, which comes to $2,280/year. So if you're in this age group, you would have to be making less than $22,800/year for your health insurance to cost less.
It is also true that deductibles will be adjusted over time. They may be higher in some cases, lower in others, depending on the amount of competition among carriers and the number of uninsured who sign up.
Yes, I do have insurance. It now costs me $1,450 a month for my family of three. Under Obamacare, it will become $981/month. Deductible will be $200 more per year.
A version of Obamacare is implemented in Massachusetts and most people in that state are happy with it. It has also not destroyed the Massachusetts economy, the last time I looked.
Hey, I'm glad you did some reading and caught that bit about 1% of income. Don't forget, that starts increasing almost immediately. The idea is to support a gradual transition for those who don't have coverage now and will be picking it up for the first time.
