You’ll get a yearly tax bill from the IRS for $2500 or some such thing. You can’t be off the rolls without paying for it. That’s why it went to SCOTUS.
Just wait about 6 weeks. Your company will opt out for you.
It would be good to have catastrophic health insurance, at the least.
Shop at your company, if they offer just that, or on the open market.
low cost/very high deductible/ no fringes
As with all socialist schemes, you are not allowed to opt out. You may not be interested in socialism, but socialism is interested in you. (and especially in your assets and all future income)
Every year, at whichever company I am working, I choose the most expensive health plan and I'll continue to do so until my company caves to Obamacare and doesn't offer insurance anymore. When that day comes, I'll pay what I have to to have supplemental medical insurance so that I am not dependent on the government.
I will refuse to buy insurance under this unconstitutional mandate, and I will also refuse to pay the penalty.
I will exempt myself from this law under the religious exemption clause which unconstitutionally specifies muslims only.
What good is insurance when there are no doctors to spend it with? 44% of surveyed doctors plan on leaving their practices.
What does your HR dept say?
Never mind the fines and penalties.
Are you prepared to purchase your own health insurance or pay your own way at the doctor’s office?
If your company has an HR benefits department, go talk to them before you make any decisions since it's possible they may be planning to host an employee seminar.
Does your company offer more than one plan? If so, do they offer a high deduct/catastrophic plan? If so, do that one. Don’t drop out if you have any assets you care about.
I don’t have a choice at my employer.
However, this year I reached the top of my payscale - no more raises indefinitely. Even if I weren’t, salaries are frozen, indefinitely.
I’ve been considering asking my employer if they would hire me as an independent contractor at the same cost to them (perhaps less their 401(k) contribution to help sweeten the deal), and then forming a c-corp to hire myself. So far, the numbers look good, but the health insurance is the big question.
My wife and I are in our 40s and healthy with no children. We’d actually prefer to have some sort of catastrophic coverage and then pay out of pocket for routine stuff and hospital bills, especially if we could swing an HSA like we have now for our high deductible plan.
I googled self-employed health insurance and all I got was a bunch of scam/quote/useless sites though. Not sure where to find good info on what the costs would be and what options there are, plus it’s all subject to change virtually every year for the forseeable future.
I think the first step would be to find a doctor we like that will take cash, but assuming we did that, the rest of it is difficult to nail down.
If you go with a high deductible plan make sure you open and contribute to an HSA. It’s pre-tax so it is like another 401K.
. and it isn’t “use it or lose it.”
My wife is working on some of this stuff now for her employer. It is a giant nightmare to understand. Her employer generously pays most of the health insurance costs of its employees and their families. The average employer-paid health benefit is around $1,000 per month.
Under Obamacare, that apparently gets reported as income now and either we will have to pay federal income tax on it, $280 per month, or the emplyer must absorb the additional cost. The employer cannot absorb the additional cost.
The tax penalty will be, I think, $2,500 a year or just a bit less than the taxable portion of the health insurance benefit. In other words, as designed, it is cheaper for Americans to switch to Obamacare and collapse the insurance industry (and its millions of jobs) and collapse the medical industry (which the government will have no choice but to benevolently take over).
In any event, when fully implemented, there will be riots across the land. Idiots voted for other idiots and had no clue what was about to smack them across the face. The largest tax increase in American history. And that tax increase will be on top of the other tax increases that are coming (such as letting the Bush tax cuts expire).
The Democrats successfully implemented a plan to collapse the system from within to make the Marxist ideal fully operational in America. They succeeded.
The time for voting is over. Ignorance won out at the polls. The only recourse for the ignorant masses will be violence.
I will be sitting back with a big bag of popcorn watching that event with a huge smile.
If you do not buy health insurance, you will not have health insurance. That means that any and all medical bills you accrue, you will have to pay out of your own pocket. In addition, because you did not buy health insurance, you will owe a tax penalty. If you decide to wait until you are very ill to buy insurance, you will be on the hook for any medical expenses you incur before it kicks in. You can avoid that by delaying your care, but in a lot of cases, such a delay would be fatal.
"Obamacare" is not a health insurance plan you get by default. You do not get health insurance because you pay the tax penalty.
Obamacare does require that the federal government put a plan on the market for people with no other options. One of the options being considered is opening the Government Employees insurance company to all comers (I forget what it's called, but it's a non-profit pseudo-governmental company). Again, you don't have to buy insurance from that company unless you want to.
Bottom line: if you have access to insurance through your employer, take it.