HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » How Much Is the ACA ‘Tax’... » Reply #9
Introducing Discussionist: A new forum by the creators of DU

Reply #9

In the discussion thread: How Much Is the ACA ‘Tax’? [View all]

Response to liberal N proud (Original post)

Fri Jun 29, 2012, 01:02 PM

9. It is 2.5% of your income or the flat rate of $695

Whichever is more.

The penalty for people who forego insurance is the greatest of two amounts: a specified percentage of income or a specified dollar amount. The percentages of income are phased in over time at 1% in 2014, 2% in 2015, and 2.5% starting in 2016. The dollar amounts are also phased in at $95 in 2014, $325 in 2015, and $695 beginning in 2016 (with annual increases after that). The Congressional Budget Office projects that 3.9 million people will pay the penalty in 2016. The total penalty for the taxable year will not exceed the national average of the annual premiums of a bronze level health insurance plan offered through the health insurance Exchanges.

http://healthreform.kff.org/faq/will-everyone-have-to-buy-health-insurance.aspx

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 23 replies Author Time Post
liberal N proud Jun 2012 OP
Zalatix Jun 2012 #1
cliffordu Jun 2012 #4
Zalatix Jun 2012 #10
cliffordu Jun 2012 #13
FarLeftFist Jun 2012 #17
uponit7771 Jun 2012 #5
Fawke Em Jun 2012 #6
Zalatix Jun 2012 #7
FarLeftFist Jun 2012 #18
EC Jun 2012 #15
nadinbrzezinski Jun 2012 #21
derby378 Jun 2012 #2
uponit7771 Jun 2012 #8
B2G Jun 2012 #11
EC Jun 2012 #16
B2G Jun 2012 #19
uponit7771 Jun 2012 #3
LineReply It is 2.5% of your income or the flat rate of $695
B2G Jun 2012 #9
Bluenorthwest Jun 2012 #12
Ship of Fools Jun 2012 #14
backscatter712 Jun 2012 #20
Roselma Jun 2012 #22
liberal N proud Jun 2012 #23
Please login to view edit histories.