Those without health insurance have a lot to consider. Many chose not to insure as it's is costly, they are healthy and anticipate little in healthcare costs.
The individual mandate fee is a crux of the Affordable Care Act, aiming to serve as a motivator for Americans to sign up for health coverage, particularly “young invincibles” ages 18 to 34. If they don’t, they’ll be faced with the total cost of their health bills. Yet, just how many people this will incentivize is unclear.
About 12 million received exemptions from the individual mandate due to hardships, financial status, and life events.
Next year those who decided against enrolling in a health plan will have to pay a much higher tax for not having health insurance in 2016 which they will feel when they file their federal taxes due April 2017. The cost: $695 per adult and $347.50 per child or 2.5 percent of a household’s income. the higher number rules.
Will people who cannot afford the deductible pay the tax or buy insurance they cannot use? Will those that are healthy opt out and just pay the tax.
What's the future for the ACA? The cost of healthcare will continue to rise as inflation does that to everything. Doctors need to be paid, Max needs to be paid, hospitals need to be paid. We all demand the latest and greatest, the best tests yet complain about the cost of healthcare. Will the government issue larger subsidies to offset the higher costs? Will taxes need to be raised to support higher subsidies or will enrollment begin to slip as premiums rise?