Obama care penalty cost per person is greater than $695.00 being spread on the news. Its not true, you will pay more for not having healthcare. It goes by income and, depends upon which is greater, the set penalty or, 2.5% which ever is greater. Besides it’s not a penalty it’s a tax.
One news report from the main stream news is reporting the 1%, 2%, 2.5% as your healthcare monthly premium payment per your yearly gross income for healthcare, this is not true but, propaganda. Example if you make $50,000 dollars a year and don’t have healthcare through Obama care you would pay 2.5% of $50,000 dollars in 2016 for your healthcare. Which comes out to $1250.00 a year for healthcare. Sounds great doesn’t it, only $104.16 dollars a month. The truth is that’s your penalty for not having healthcare not $695.00 dollars. They left out the part whichever is greater. See blow.
This is the real penalties for not having healthcare
In 2014 you will pay 1% of your income towards Obama care -
In 2015 you will pay 2% of your income or a $325.00 penalty – Or which is ever greater
In 2016 you will pay 2.5% of your income or $695.00 penalty – Or which is ever greater
Their is a cap for families of around $2,500 some odd dollars for a tax penalty.
If you make $30,000 a year your penalty for not having healthcare is either $695.00 a year or 2.5% of $30,000 dollars a year. Whichever one is higher. 2.5% of $30,000 dollars is $750.00 so this is your real penalty for not having healthcare. Not $695.00. The IRS will have full control of Obama care.The IRS will garnish your wages to pay this sum, which will include interest.
Nobody knows what their cost will be for healthcare because the states have to make an exchange which will tell you how much you will pay.