Is It Fine for Not
Having Health Insurance?
Is
it fine for not
having health insurance? With the high payment of hospital bills,
still there are many people choose to not having health insurance. Is it really
a good choice? Is there any penalty for those who decide for not having health
insurance?
Not Having Health
Insurance, Is It a Good Decision?
With
the invention of uncountable deathly diseases in this modern era and with the
high cost of hospital bills, there are still many people out there deciding for
not having health insurance. Some of them think that the insurance payment is
too high and they do not afford it. Some other people choose for not having
health insurance because they are afraid of getting difficulties to make claims
over their payments. It is really dilemmatic. But still the decision for not
having health insurance is not a good choice. Why? There are some reasons that
you need to have health insurance. First, you will never know when you will get
health problem or suffer from deathly disease such as cancer. The medication
and treatment for such diseases always requires a lot of money. It can bring
you to bankruptcy. The second is that government will give penalty for those
who don’t have health insurance.
The Penalty for People
Who Don’t Have Health Insurance
In
order to encourage people to have health insurance and to help more people to
pay their medication bills, government approves a scheme called the Affordable
Care Act or ACA. The act requires American people to buy health insurance for
their own sake. According to the ACA, if people refuse to have health insurance
then the government will have authority to give penalty to them. This penalty
fee is sometimes also called as Obamacare penalty. There are two ways that are
used by government to calculate the penalty fee, they are calculating the
percentage of total household you have and then adjusted it with flat rate or
gross income. Which one will be adjusted with your percentage of total
household will depend on the total flat rate or gross income. The government
will adjust it with the one that has greater amount. The penalty of tax year of
2017 is 2.5 % of total household which is adjusted with gross income. In the
other words, penalty for adult reaches $ 695 while for children reaches $
347.50. Meanwhile, the maximum payment for the penalty reaches $ 2.085. So, is
it still fine
for not having health insurance?
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