8 things to know about the insurance mandate individual health

8 things to know about the insurance mandate individual health -

Whether you are for or against the Affordable Care Act is officially become a reality in 2014. now we know with certainty that the individual mandate for health insurance was confirmed, people ask more questions than ever. Here are 8 things everyone needs to understand:

1. The Supreme Court ruled that the individual mandate is constitutional because its considered a tax instead of a penalty.

2. The penalty for not buying health insurance is $ 285 per family in 2014, or 1 percent of income. From 2016, the penalty increases to $ 2,085 per family or 2.5 percent of income. Consumers without health insurance will be charged the highest amount in each case.

3. There is a grace period if you are not insured for three months or less. After three months, you will have to pay the warrant fee.

4. The term begins on 1 January 2014.

5. Health insurance can be purchased online or through health insurance exchanges. Those who qualify for Medicaid will be able to apply online through the exchanges as well.

6. For those who have trouble providing health insurance and are not eligible for Medicaid, some may be eligible for grants. These grants will be determined by income and will be available on health insurance exchanges.

7. There is no "default" or an auto insurance plan. People will not sign up for Medicaid health coverage or unless they enroll in a plan on their own.

8. Starting in 2014, individuals will be guaranteed health insurance regardless of pre-existing conditions.

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