Insurance renewal

[mpholland]

Originally Posted by JJIII

They are young, strong, and invincible! They also want to keep as much of their paycheck as possible. If you do the math it's easy to guess which way they will go.

"The penalty in 2014 and beyond

The penalty in 2014 is calculated one of 2 ways. You’ll pay whichever of these amounts is higher:

1% of your yearly household income. The maximum penalty is the national average yearly premium for a bronze plan.

$95 per person for the year ($47.50 per child under 18). The maximum penalty per family using this method is $285.

The fee increases every year. In 2015 it’s 2% of income or $325 per person. In 2016 and later years it’s 2.5% of income or $695 per person. After that it is adjusted for inflation.

If you’re uninsured for just part of the year, 1/12 of the yearly penalty applies to each month you’re uninsured. If you’re uninsured for less than 3 months, you don’t have a make a payment."

From here...

https://www.healthcare.gov/what-if-s...erage-in-2014/

Notice I didn't say this would be a wise decision, it's just what I think will happen more often than not. If that turns out to be true, how long can the plan survive without them joining?

I am not sure if this still holds true, but a while back the only IRS collection method was going to be withholding from the tax returns, so if they claim the proper deductions there will be no tax return to withhold from.

[merrylander]

Originally Posted by piece-itpete

The two issues are tied thusly: because the site is such a disaster Obie & co are talking about allowing folks to keep their current policies.

Unfortunately that cuts into some of the folks the insurance cos were figuring to sign up. Long and short the rollout was even worse than it seems.

Pete

The reals disaster was leaving the insurance companies in place and not allowing Medicaire and Medicais to negotiate prices. However when you have a horse's arse for a Congress it is little wonder we get manure.