Dealing with the Fine For Not Having Health Insurance can be really frustrating. Especially if you have to deal with the high fine which has to be paid. Many people of course have been known and realized how important the health insurance is. Still, some other have the different perception associated with the health insurance. It still happens to lots of people. And they often do any other ways dealing with it without having such the health insurance. That is much better for you to find out the pros and cons about having such the health insurance. You can consider about that before deciding for having or not having the health insurance.
In addition, you also need to notice that the health insurance is stated to be the must have one for almost anyone, especially if you are in US. What if you have no health insurance at all? If you have no health insurance at all, it is possible for you to get the punishment by paying amount of fine. That is such the worse thing to deal with so that is why it is good for you to know well about it. Before you have to deal with the punishment fine for having no health insurance. Before you decide for fine for not having health insurance, it is much better to know about it well first. So that you will get an overview for the impacts which you have to deal with.
What to Obtain from the Health Insurance and the Fine for Not Having Health Insurance
It is good for you to know about the Fine For Not Having Health Insurance before you go making a decision in having or not having the health insurance. It is good to know first about what you can obtain from having the health insurance. Of course, it will help you much in preparing the worse thing in a good way. And it will help you managing your finance indirectly.
When something bad happens to you which requires you getting some medical treatments that cost not that cheap. You would not need to be worry since you prepare it well by having proper health insurance. It will also help you affording those medical treatments and also the medication. However, you need to deal with the regular cost which you need to pay for the treatment. Still, it is worth the price if you are smart in choosing the right one.
Fine for Not Having Health Insurance which You Have to Pay
The cost to pay for the health insurance actually is not a big deal because you can choose it based on your capability and affordability. You have to notice how much you have to pay for the fine as the punishment for having no health insurance. The penalty you have to pay as the fine would not be that small. Under the Obamacare, in 2017, the maximum penalty is not less than 13,000 dollars. For the single party, it will be about 2.5 percents of her or his income or about 695 dollars. That can be a bit overview about the Fine For Not Having Health Insurance.
What’s the Penalty for Fine For Not Having Health Insurance of both the Family and Individual?
What’s the Penalty for Not Having Health Insurance so that we have to think thousands times for not having health insurance? It is such a common thing which becomes the question that comes to your mind. However, that will be something good for you to get the right idea in making a right decision about having or not having the health insurance. In today’s life, there are still lots of people who do not even realize the importance of the health insurance. It can be seen by the existence of so many people who still have no health insurance at all.
If you still feel reluctant in applying the health insurance, why don’t you consider what kinds of impacts which you have to deal with then? By getting to know about it, you will know the risk of having no health insurance. Also including you will know the possible penalty or fine which you have to pay. Of course, it would not be in the small amount comparing to the cost you have to pay for the health insurance. Which surely will give you the benefits in the future especially if you need such the medication or medical treatments.
What’s the Penalty for Not Having Health Insurance for the Individual?
You can also imagine facing such the worse health problems which require you to get such the medication and medical treatments. Which may sound unaffordable unless with the health insurance. Perhaps, you may not be able fulfilling the need of the proper medication or medical treatment on time which may require you dealing with the worse impacts for your health. That is the main function of having health insurance.
It is a good thing for us to know about What’s the Penalty for Not Having Health Insurance. The penalty can be for the individual or the family. Based on the Obamacare, for the individual, the penalty in 2017 and also 2016 is still the same. Which is about 2.5 percents of the income or about 695 US dollars. In 2015, it is only about 325 dollars or about two percents from the income, while in 2014 the penalty is only about one percent of the income which means about 95 dollars. Inflation becomes the reason why the penalty is getting increasing from year to year. Except the year from 2016 to 2017 which is still the same or stable.
What’s the Penalty for Not Having Health Insurance for the Family?
Since we have informed about the penalty for having no health insurance for the individual, we need to also know about the penalty for family. In 2016 and 2017, it is still the same which is about 2.5 percents from the income or about 2,085 US dollars. In 2015, it is only about two percents or about 975 US dollars. While in 2014 it is only about one percent which is about 285 US dollars. Those are the penalty for having no health insurance under the Obamacare. Sure, the amount of penalty is not that small so that it is good for you to consider the info related to What’s the Penalty for Not Having Health Insurance before making a decision. Source from Healthcare.gov
What Is the Penalty for Fine For Not Having Health Insurance?
What is the penalty for no health insurance? Did you receive a letter stating that you have to pay a penalty at the end of the year? Everyone is required to have health insurance, why? Some people may be confused as to why a health insurance becomes a necessity. Every American should have health insurance in 2014. If you already have health insurance from your workplace then you will not charge again. But what happens if you do not have health insurance? Americans impose an annual penalty of 1% of your total income per year.
The amount of penalty
The amount of penalty you have to pay depends on how many family members and your income. You also do not have to pay a fine, only if, you have been registered as a health insurance holder for at least 9 months in 2014. What if your insurance is less than 9 months? This means you have an obligation to pay the fine in 2015 and only in 2015, after which you will not be fined again.
You must pay a fine of $ 90 for adults and $ 45 for children. Except for those who are financially unable to purchase health insurance will be subject to a smaller fine. Those including in the poor category will only be charge a very small fee (in accordance with applicable regulations). And they will also get health insurance from the state.
Excess health insurance
Health insurance has many advantages, so why should you avoid it? There are many conveniences that you can get if you buy health insurance, in addition of course you will never be fined.
It is already familiar that the benefits of health insurance for the community is very much and important. Although insurance is still a polemic in various circles of society, but it does not make people’s interest to recede to be able to invest health funds. The following health insurance benefits for the community:
Proper health care
If you have not already joined health insurance, you will find it hard to pay for medical expenses. And also treatment for certain diseases that come suddenly so that more losses just to get good service. By joining an insurance customer, the insurance company will cover the health cost.
If you are an insurance customer, the risk will be transferred to the insurer. So you do not have to worry too much about a risk that may befall you and your family.
If you join the insurer, your time and also your security will be more efficient. Why? Because the insurer will protect thoroughly and move quickly if there is a risk.
Health insurance is a guarantee for your treatment. Health insurance covers all medical expenses so you do not have to worry about the cost of illness. The penalty is applying only as a tool to “force” you to have a guarantee for your health. Now that you know about “What’s the penalty for fine for not having health insurance?” It’s time to buy health insurance and be free of penalties and medical expenses.