To the question, “do I have to buy health insurance,” the answer is yes–and no. Government initiated health care reform mandates set to take effect in 2014 will effect individual citizens, in regard to personal and family coverage. While the law states that all individuals must be insured by January of 2014, the government offers the option of paying a fine for not complying to the mandate.
While some law makers are looking for the same type of reprieves given to businesses, the law stays the same for individuals. If you haven’t heard, the government changed the 2014 large group mandate for businesses of 50 or more. They don’t have to comply until 2015. Mostly, this pushes the responsibility of being insured on individual workers–at least for one more year.
A Few Details
Although the mandate seems sweeping and harsh, there are some reprieves within it that will help consumers in general. In showing an example of “understanding,” penalties for not complying to the law will incur a fee of 2.5 percent, at its highest, in 2016. In another example of understanding, one part of the law offers comprehensive coverage at a lower price to people at 100 to 400 percent of the government-recognized poverty line.
Sackett & Associates has helped citizens of California to navigate through the complexities of health insurance for over 30 years. We aim to continue to help people insure against life’s difficulties. Contact us for more information on health care reform and how to save on health insurance premiums.