Obamacare Tax Penalties Continue To Rise For 2016
Hollywood, FL, United States – January 25, 2016
2014 Tax Penalty: $95 for each adult and $47.50 for each child, but not more than $285 total per family – Or 1% of the family’s yearly taxable income.
2015 Tax Penalty: $325 for each adult and $162.50 for each child, but no more than $975 total per family – Or 2% of the family’s yearly taxable income.
2016+ Tax Penalty:$695 for each adult and $347.50 for each child, but no more than $2,085 per family – Or 2.5% of the family’s yearly taxable income.
Look at an average family in South Florida, and their quote or tax penalty if they decide to be uninsured: (Quoted from ezHealthMart’s ACA Platform Online)
Father: Age 38, Mother: Age 36, Child: Age 15, with a household income of $40,000. The cheapest plan to cover this family of 3 would be with CoventryOne, leading to a $326.68 subsidy, paying only $94.48/month besides the original price of $421.16/month. The annual plan cost would add up to $1,133.76. If this family decided to be uninsured in 2016, the tax penalty would be $1,737.50. Only 5 million people have enrolled in 2016 Obamacare health insurance insurance so far, and after numbers likewise, there’s plenty more that will get covered because of the high tax penalty this year. Enroll before January 15th to get a February 1st effective plan for 2016 or between January 16th – 31st to have a plan that takes effect March 1st. The quicker people enroll, the better for people’s health insurance and safety. Read below for the best way to enroll in Obamacare Insurance:
There’s actually two ways to apply for Obamacare health insurance in the marketplace. There’s private exchange, or The Health Insurance Marketplace (the government facilitated websites). Here are a list of pros and cons for both. Here are the positives when it comes to the Private Exchanges such as ezHealthMart’s website. First: consumers can buy health insurance from licensed agents, online and in person (there are many times, especially when the consumer is self employed, where they must upload multiple documents which is much better when a consumer may go to an enrollment center such as ezHealthMart’s Enrollment Center’s Page and have an agent do it for them), or directly from insurance companies. Second, private enrollment centers are typically staffed with licensed health insurance agents. There are more options when shopping for plans through a licensed agent. Examples are Major Medical Plans (Under the ACA, consumers who do not qualify for or want a subsidy, but who want to avoid the tax penalty, can buy major medical health plans that meet ACA coverage standards on or off of government-run state exchanges). The rest of the info on this matter may be found by clicking here on ezHealthMart’s website for a quick and easy Obamacare Sign Up.
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