LETTER: What Obamacare will cost citizens
To the Editor:
Beginning January 2014, Obamacare (H.R. 3590) demands Americans obtain only government-approved health insurance or pay a penalty.
Workers recently laid off or working reduced hours from businesses escaping punitive costs of Obamacare may decide to pay the penalty. This penalty in 2014 is $95, $350 in 2015, and $750 in 2016; those under 18 pay one-half fee (United States Senate Democrats document: http://dpc.senate.gov/health reform bill/healthbill04.pdf).
The cost a family of five will pay for penalties — $95 x2 and $47.50 x3 equals $332.50 and does not apply to any insurance premium.
The healthcare.gov website tells us that “...the most a family would have to pay in 2014 is $285.” What about after 2014? Maybe the answer is in the thousands of pages of regulations by Health and Human Services administration. If a person does not pay the fee, the IRS will hold back that amount from future tax returns.