Understanding the 2015 Health Insurance Penalty
Health insurance penalty scheme launched by the United States government or which is mostly known as Obamacare penalty has become hot issues for long time in the country. Along with the increase of the penalty fee in 2015, more people feel that instead of helping the US people, the Obamacare penalty is burdening. Is it true? Get to understand about this 2015 health insurance penalty in this article before you decide what to do about this matter.
What is Health Insurance Penalty Actually?
Health insurance penalty is a policy in health field launched under President Obama government to give regulations about the compulsory of US citizens to have health insurance. That is why this health insurance penalty also called as Obamacare penalty. This regulation covers the rules and calculation that requires people to pay the penalty if they refuse to have health insurance. All the schemes that arrange the penalty along with its calculation are listed on Affordable Care Act or ACA. According to Obama government, this ACA is for the sake of US citizen. This idea comes due to the fact that there are still many people in United State who don’t have health insurance while the cost of treatments in hospitals keeps increasing from time to time. Not only this Obamacare will help people to get medical treatments paid by insurance payment, but it can also help people with low income to enjoy medical treatments too under Obamacare regulations.
Get to Know the Payment for Health Insurance in 2015
The 2015 health insurance penalty becomes hot topic that trigs national debates following the increase of the fee payment. If we look back to the year of 2014, people should pay $ 95 for the penalty fee. It was about 1 % of US citizen average income. But in the year of 2015, people have to pay higher cost of penalty that reaches $ 325 under the flat rate. It is about 2 % of US citizen average income. For more detail, those who don’t have health insurance have to pay $ 325 per adult. Meanwhile, the tax penalty for children reaches $ 162.50. The maximum payment for health insurance penalty in 2015 reaches $ 975. Or in the other words, just say you are an adult with $ 50.000 payment per year, then you have to pay $ 794 for the penalty fee according to the calculation of Tax Policy Center regulation.