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You can sign up for health coverage on an exchange anytime between now and March 1, 2014. Your coverage would begin Jan. 1, 2014, at the earliest. If you do not enroll in that window, you will not be able to get health coverage through the insurance exchange marketplace until the next annual enrollment period unless there are extenuating circumstances.
The penalties are not very high to begin with. In 2014, the fine to remain uninsured is $95 per person (up to a family maximum of $285, or 1 percent of family income, whichever is greater).But the penalty will increase more than sevenfold in the next two years, with the fine running as much as $695 per person by 2016. The family maximum would be as high as $2,085 (or 2.5 percent of family income, whichever is greater).
It depends, but as of now it is probably cheaper to pay the fine, provided you do not use any health-care services. You can calculate how much your health insurance premium would cost by using the Kaiser Family Foundation Subsidy Calculator, and then you can compare the cost to the penalty you would be assessed for having no insurance. The subsidy calculator takes into account your region, household income, employer coverage, number of family members, and tobacco use.
Your out-of-pocket maximum for a Silver plan (not including the premium) can be no more than $12,700. Whether you reach this maximum level will depend on the amount of health care services you use. Currently, about one in four people use no health care services in any given year. You are guaranteed access to a Silver plan with an actuarial value of 70%. This means that for all enrollees in a typical population, the plan will pay for 70% of expenses in total for covered benefits, with enrollees responsible for the rest. If you choose to enroll in a Bronze plan, the actuarial value will be 60%, meaning your out-of-pocket costs when you use services will likely be higher. Regardless of which level of coverage you choose, deductibles and copayments will vary from plan to plan, and out-of-pocket costs will depend on your health care expenses. Preventive services will be covered with no cost
You will be required to provide information regarding health insurance when you file your 2014 federal income taxes. For those who elect not to buy health coverage, the penalty will probably be assessed on the form or withdrawn from your tax refund.
Gallup surveyed 5,099 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia. The survey was conducted from September 17-26.
Statistics worsened in the important 18 to 29 age bracket. Sixty-nine percent of the youth demographic were unaware they were required to get health insurance by January 1, 2014. This is the age group that Obama is hoping will foot the bill for the rest of America.
According to Congressman Jim Himes (D-Conn.), out of the 28,000 visitors to his state's exchange Tuesday, only 167 actually signed up:
So before media members have orgasms over the number of people visiting exchanges, maybe they should concern themselves with the number of people applying for insurance.