Fines for Lack of Health Insurance
One of the proposals for the Obamacare health plans consists of fining people/businesses, up to $3800, if they don’t carry health insurance. Under these rules, it won’t be an option whether you want health insurance or not (and some boomers are in the pre-Medicare age where they have a choice).
How will this affect you and your small business? Also, there has been discussion that you won’t be allowed to choose a high deductible, something my husband and I once opted for, to keep health insurance premiums down. We decided we could pay for the smaller health costs and carry health insurance for only the catastrophic situations. You may not have this choice under the new proposals, if they are put into law.
“How can they collect the fines if I don’t have the money,” you wonder.
The possibilities discussed have been doing it through the IRS or through your employer, if you have an outside job. Or if you are the employer, then your fine will be collected through your business. There apparently would be ways for the government to access your checking and savings accounts.
These are matters in the discussion stages, but rapidly coming to a head, as Obamacare is being pushed forward is some form or fashion. And there is no way to put our heads in the sand and say, “It can’t happen in our country.