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What coverage do you get with Obamacare if you just pay the 'tax' penalty?

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What coverage do you get with Obamacare if you just pay the 'tax' penalty?

Postby branduff » Fri Apr 13, 2012 10:36 pm

One expert said 'the govt will give us details later, but expect a smaller refund on your taxes'(sic!). If you are not "poor" I suspect you will get a high co-pay on med bills since USA health is super-expensive and our govt is bankrupt.
My only idea of what I might copay, is from high deductible health insurance policies. The premiums are higher than the proposed non-insured 'tax' penalty. There seems no guarantee in Obamacare that you still won't have to dip into your saving and nothing is clear about what coverage you get, for what.
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What coverage do you get with Obamacare if you just pay the 'tax' penalty?

Postby edmyg » Fri Apr 13, 2012 10:42 pm

The tax penalty applies if you choose not to buy insurance, and it is in effect the cost you will one day charge the government when you get emergency treatment. Republicans made sure we couldn't get a single payer system, and Obama care was the compromise. Once it was passed, then it became villiany.
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What coverage do you get with Obamacare if you just pay the 'tax' penalty?

Postby heath50 » Fri Apr 13, 2012 10:45 pm

Ok, important note number one: Obamacare Does Not give you or anyone else health coverage.

The big point of the law is that if forces you, and everyone else in the country, to BUY health care. If you don't buy health care, you pay the 'tax penalty'. In theory, Obamacare will make companies provide some type of cheap health care. But everyone knows it will not be cheap(it's like $500+ a month for a single young person right now) and that you will get the crapest care available, that does not cover things had has huge co-pays and such. And the government won't help pay for it, they will only help the 'dirt poor', and if you make even $100 a month that will be 'too much' and you will get nothing.
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What coverage do you get with Obamacare if you just pay the 'tax' penalty?

Postby dekle19 » Fri Apr 13, 2012 10:52 pm

The insurance exchanges wont be ready until 2014. Then you can choose an insurance plan to fit your needs and budget from major insurance companies. When you file your tax return you get a tax credit to subsidize the cost of the insurance.

The cost is unknown since you have to choose your own health insurance and each has its own coverage, deductible, co-pays. You dont have to buy an expensive comprehensive plan.

If you pay the penalty instead of getting a credit, it seems to me a waste of money when it could go toward getting insurance. An adult who does not have health insurance by 2014 would be penalized $95 or 1 percent of income, whichever is greater, so long as the amount does not exceed the price tag of a basic health plan.

But by 2016, the penalty increases to $695 for an uninsured adult, and up to $2,085 per household, or 2.5 percent of income, whichever is greater.
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