The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Hayseed Discovers Sticker Shock||Date: 10/31/2013 6:20 PM|
|Author: CCinOC||Number: 703405 of 757765|
The real sticker shock is going to come when the millions don't sign up, and are making 50-70K a year, and the IRS sends them a tax bill for $500 or $700.....the 1% of their salary......as a 'due' tax.
How much are the penalties for not buying a health plan?
The penalties are not very high to begin with. In 2014, the fine to remain uninsured is $95 per person (up to a family maximum of $285, or 1 percent of family income, whichever is greater).
But the penalty will increase more than sevenfold in the next two years, with the fine running as much as $695 per person by 2016. The family maximum would be as high as $2,085 (or 2.5 percent of family income, whichever is greater).
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|