Over the past few years, the terms ‘Obamacare’, ‘Affordable Care Act,’ and ‘Marketplace’ have taken over the health insurance world. While all of these terms mean the same thing, there are now different ways of obtaining health insurance and we can help you make the best decision for you and your family. Individuals are required to have health insurance coverage or risk being fined. If you don’t have coverage, you will pay the higher of these two amounts:
- 2.5% of household income per person, with the maximum amount you owe totaling the yearly premium for the national average price of a Bronze plan sold through the Marketplace.
- $695 per adult, and $347.50 per child under 18 with a maximum penalty of: $2,085.