I’m living my life as if there is no such thing as Obamacare, except for one thing: As long as it is in effect I will not have health care insurance, beginning 14 months ago. And there are two things people need to know about that:
1. By law, the only way the payment of the penalty is enforceable is through confiscation of tax refunds. I never get a refund.
2. If your out of pocket cost for the cheapest Obamacare insurance (bronze) is more than 8% of your income, you are exempt from the penalty. My wife and I are over 61. The cost of health care insurance is very high.
I’ve gone fully Galt regarding my TAXABLE income.
I don’t have any problem with your approach and understand the penalty/tax thing wrt tax refunds.
I do not get ‘refunds’ either. I always pay something below the penalty stage. I squeaked by on the healthcare thing because of retirement health insurance and starting medicare, but I sympathize with you.