Posted 5 years ago on June 28, 2012, 2:01 p.m. EST by foreeverLeft
This content is user submitted and not an official statement
Starting in 2014:You will have the option of buying a health plan through your state's exchange with federal assistance. Based on your income, your annual premiums for that plan would be no more than $2,576 to $3,040. Your maximum out-of-pocket costs for deductibles and co-payments would be capped at 30 percent of the total cost.
Insurers can’t discriminate against you for having a pre-existing condition, and can only vary rates within a narrow range.
If you do not obtain insurance coverage by 2014 you will be assessed a tax penalty. The penalty becomes progressively greater from 2014 through 2016, when it reaches full strength. At that point, assuming your current income remains the same and your household consists of 1 uninsured adult, you would be subject to a penalty of about $695. You are exempt from the penalty if the least expensive plan option in your area exceeds eight percent of your income.