As millions of Americans scramble to file their tax returns, many are shocked by the full cost of ObamaCare’s individual mandate.
“Those who failed to obtain minimum essential health insurance coverage last year will have had to send the Internal Revenue Service (IRS) a check for $1,130, on average,” Doug Holtz-Eakin, former director of the Congressional Budget Office, testified today before a congressional hearing.
An estimated 6.3 million people will be required to pay a penalty this year because they didn’t buy qualifying health insurance in 2014, Holtz-Eakin testified. Another 30 million people didn’t buy the mandated coverage either but won’t have to pay the penalty because of the myriad exemptions the Obama administration is allowing, with or without legal justification...
The latest exemption was for 900 Olympic athletes whose health insurance coverage didn’t meet the ObamaCare test. The Washington Post reported, “The health plan, known as the Elite Athlete Health Insurance Program, is a medical insurance plan offered only to TeamUSA’s top athletes and their dependents....
So Americans trying to earn gold, silver and bronze medals in the 2016 Olympics have coverage that doesn’t fit the platinum, gold, silver, and bronze mold of coverage in the ObamaCare exchanges. The Olympians’ exemption was added to several dozen being allowed by the Obama administration. That’s good for athletes but bad for the rest of us less-fit citizens.
Those who don’t purchase qualifying health insurance or get an exemption must pay a fine of $95 or 1% of income for last year, whichever is higher, escalating to $695 or 2.5% of income in 2016.