Uninsured next year? Here's your Obamacare penalty…

"To try to ensure that people sign up for coverage, the Affordable Care Act carries complex penalties for those who remain uninsured that could cost them hundreds, or even thousands of dollars. Some 6 million people could be hit with these fines in 2016, forking $7 billion over to the federal government, according to the Congressional Budget Office." (Reference)

The penalty will be way less costly than a year's worth of monthly premiums. Yet, the uninsured will be paying for a dead horse. In other words, the penalty payment gets nothing for the person who pays it.

Anyone due a refund at tax time, who is not insured, will see the penalty deducted from their refund amount.

"Among those exempted include: undocumented immigrants, Native Americans and those who earn too little to file tax returns. Also, people who would have to pay more than 8% of their income for health insurance and poor adults who live in states that are not expanding Medicaid also aren't subject to the penalty. The uninsured can also file for hardship exemptions." (Reference)

Luckily, my Kaiser Senior Advantage plan, through Medicare, should remain relatively unchanged. That premium is approximately $100 per month, Nonetheless, simply getting blood tests carries a $30 co-pay per lab visit. Seeing my doctor carries a $20 co-pay per visit.



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