- Rising penalties for having no insurance - In 2014, uninsured Americans will be required to obtain health insurance or pay a penalty equal to the greater of $95 per adult and $47.50 per child, or 1% of family income. In 2015, the penalty rises to the greater of $325 per adult (half as much for each child) or 2% of income. In 2016 and beyond, the penalties rise even further.
- The risk of incurring huge medical costs due to an accident - Being young and healthy does not vaccinate you from the kind of risk that can leave you and your family destitute.
- Limited access to quality medical care when you do need it - While the Affordable Care Act will not close down access to emergency rooms when an uninsured individual needs immediate care, getting treatment from other physicians for chronic conditions is going to be a lot more difficult. Some providers, upon learning you are uninsured, may simply decline you as a patient.
- The increased likelihood that you will neglect the routine, preventative procedures that can keep you healthy - It stands to reason that if you are unwilling to pay for insurance, you'll probably be averse to the high cost of an annual check-up or routine procedures.
Obamacare Is Here: Pay the Premium or Pay the Penalty
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.