Think Health Insurance Too Expensive? – Think Again

Did you know that you will be fined if you do not have health insurance by March 2014?  Next year Obama Care kicks in – affordable health insurance for everyone. What happens if you decide you don’t want health coverage?   You will be fined 1% of your modified (net) income or $95, whichever is greater on your 2014 taxes.  But that is only the beginning.  The penalty for not having health insurance will increase over the next two years until 2016, when the fine will be 2.5% of your net income, or $695, whichever is greater.    Let’s take an examples of what that will cost you.  If your net income in 2014 is $40,000, you will be fined $400.  Fast forward to 2016 and that fine now becomes $1,000.  We all need health care coverage.  Does it make sense to pay a fine and get nothing for it in return?

In Los Angeles, as well as the rest of California, “counselors” are now being prepared to help the flood of applicants who will be signing up for health care coverage.  Many of these “counselors” will have no health insurance background.  How much sense does it make to have an inexperienced person advise you on what type of insurance is best for you and your family?

Individuals have until December 15th, 2013, to be signed up for coverage, starting January 1.   They will not the only ones to be fined for not having insurance.  Many companies will also have to make health care available to all full-time employees.  Businesses will have until 2015 to comply or face fines.

Now is the time to speak to a qualified insurance agent and get all the facts.  Don’t wait until last minute when the insurance industry is flooded with applicants.

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