Obamacare fines are part of the Affordable Care Act package that everyone should be aware of. After all, there’s no such thing as “free” healthcare. As previously reported by The Inquisitr, the Obamacare price on the state exchanges will average $328.
The self-employed, and workers at businesses not offering health insurance, will need to file paperwork showing what they estimate their family might make in income over the next couple years. The deadline for avoiding Obamacare fines is December 25, 2013 although open enrollment is available until March 31, 2014. You must have health insurance by January 1, 2014 in order for the Obamacare penalty to not kick in. But beware that Obamacare subsidies come packaged with Obamacare fines in the form of tax surprises if your estimates are too far off.
You can’t simply ignore the Affordable Care Act, either. As you might recall, the Supreme Court allowed Obamacare as a tax, which means Obamacare fines are pretty much a necessity in order for the Affordable Care Act to remain constitutional. Unless you happen to be exempt from Obamacare, or are part of one of the Obamacare alternatives, Obamacare fines can add up pretty quickly.
The Obamacare penalty for an adult is $95 and $47.50 per child. The Obamacare individual mandate makes Americans liable for up to two additional dependents. For a family of four the Obamacare fines jump to $285 or one percent of the family income, whichever is greater. But over time the Obamacare fines will be getting higher. In 2015, the Obamacare fines will be $325 per person, or two percent of taxable income. In 2016, the Obamacare penalty maxes at $695 per person, $2,085 for the family, or 2.5 percent of taxable income. That adds up to $173.75 per month.
Read the remainder of this article at---
http://www.inquisitr.com/obamacare-fines-the-penalty-price-paid-for-ignoring-the-ACA
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