Thursday, April 16, 2015

Average Fine For Noncompliance With ObamaCare Is $1130

Grace -Marie Turner writes:
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.

-RW

8 comments:

  1. Good job America, how's that affirmative action president working for ya?

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  2. Higher of $95 or 1% of "income" for not purchasing qualified insurance.
    $1,130 average paid for failing to purchasing qualified insurance.
    $1,130 is 1% of $113,000.
    $113,000 is the average "income" of those who did not purchase qualified insurance?

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    1. You get gigged for having dependents not insured as well....so I'm assuming that accounts for a great % of those paying more than the average 1% of income.

      The ACA is pretty heinous.

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    2. Is it another $95 or 1% for each dependent?

      What a wonderful combination: tax "laws" and insurance.

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    3. I believe it's half the normal penalty for each dependent under 18. So if you are uninsured and in the gap where you don't get a subsidy(or not enough to afford coverage) and have two kids, it's actually 2% for you.

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  3. It's a tax, not a fine (John Roberts said).

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  4. Also the worse the IRS can do if you don't pay the fine is withhold your refund.

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    1. I'm assuming that like all things owed to the IRS, that penalties & interest will accrue until it's paid...also, sadly...it doesn't take much to imagine that as those owing for the fine/tax increases in number and amount owed, steps will be taken to further penalize them eventually as government scrambles for more cash every year....I'm sure eventually the IRS will have its normal arsenal of confiscation methods available to it as time goes on.

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