Does anyone know what the proposed tax/penalty will be for those who elect not to get healthcare?
I know a woman that since very early in her life created a health care fund for herself and her children. It has several thousand in it by now but since she's fairly healthy she just pays out of pocket when she has to go to the doctors and that has worked for her. I'm thinking that's they way I will go...eventually and just pay the tax/penalty.
From what I've read/seen/heard the penalty will break down like this:
2014 $95 penalty or 1% of your income (whichever is greater) per adult per household
2015 $325 penalty or 2% of your income (whichever is greater) per adult per household
2016 $695 or 2.5% of your income (whichever is greater) per adult per household
For uninsured children, the penalty will be half of what it is for adults.
After 2016 the penalty will increase annually according to inflation.
An exemption is available for those whose premiums are equal to at least 8% of their income.