The Marketplace is where you can purchase health insurance through the federal government. Once you apply, you will learn which insurance plans are available to you, and if you qualify for Medicaid. If you are a low-income individual or family, this option may allow you to maintain health insurance at a low-case, thus avoiding penalty fees altogether.
If you have insurance through your employer or another source, and this reaches the minimum requirements for health insurance, then you will not be penalized. The penalty in 2015 for an uninsured adult is $325, and a $162.50 for a child. A family that is uninsured will be $975 or 2 percent of the family income, whichever is greater. These fees will rise every year, so in 2016 an adult will be $695, $347.50 for children, or $2,085 for families.
To avoid these fees, your health insurance plan must meet the “minimum essential coverage” threshold. People who do not have to pay the penalty is for those who have been uninsured for less than three months in a year, those who have very low income, and those who quality under the new income limits for Medicaid but your state has not accepted the Medicaid expansion.
So that you receive a health care plan which is suitable for your needs, and can avoid paying the penalty fees, contact Sackett & Associates Insurance Services. We are the leading health insurance agency in Sonoma County, CA.