What you need to know about the pain of not having health insurance

What you need to know about the pain of not having health insurance -

With the Affordable Care Act came to the requirement that almost all Americans have health insurance. (This is sometimes called the individual mandate or individual payment responsibility.)

But people who are healthy may wonder if it is really worth financially. (Learn how to avoid common mistakes)

There are more than one reason health insurance is a good idea :.

1. also because of the ACA, most preventive services are covered with little to no cost to you.
2. with insurance, you're protected to pay the full cost of care if you have an accident or serious illness.
3. your insurance gives you access to pricing your discount insurance company has negotiated with drug companies and doctors and hospitals in your supplier network. This means that you pay less for care you use.
4. Finally, avoiding the pain of not having health insurance can save you money and adds to the reasons to enroll in health insurance a good financial decision.

Here are some things you should know about the penalty for not having health insurance in 2016.

• you may be required to pay a penalty if you do have no coverage for more than two months. You may face a penalty for each month, you are not covered minimum essential, which means that you are enrolled in a health plan that meets the Affordable Care Act. All medical plans on the market ConnectedHealth meet the minimum essential coverage requirements, with the exception of short-term coverage.
• If you are not covered, you may have to pay a fee when you file your 2016 taxes. You pay only for the members of your household who are not covered. Your household is yourself, your spouse (if married) and your responsibility.
• The penalty for not having health insurance in 2016 increased compared to previous years. The fee is calculated in two ways and you would pay according to the higher of:
  • A cost of $ 695 per adult and $ 347.50 per child under 18. The maximum penalty when family it is calculated this way is $ 2085.00
    OR
  • A cost of 2.5% of household income. The maximum penalty when calculated in this way is the cost of the annual premium to the average national price for a bronze plan sold on the federal market.

If you're on the fence about registration for 2016 - keep in mind that to have coverage can eventually add money to your portfolio or your bank account. But do not delay - you can sign up for coverage for 2016 until January 31.

After that, you can only register if you have a qualifying life event (such as a change your marital status (eg marriage, a new child, etc.), loss of the previous coverage, or a move to a new area.

If you have questions about whether you may be at risk of paying the penalty, you can reach our licensed agents by phone or chat when you visit the ConnectedHealth market.

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