Overdrive Magazine | Trucking Business News & Owner Operator Info
Issue link: http://read.dmtmag.com/i/187653
Voices Uncertainty, opposition at the fore as Obamacare approaches Following Affordable Care Act insurance-exchange implementation, how will you purchase health insurance in 2014? 17% Other 6% I won't, I'm covered on my spouse's plan Early enrollment in the new exchanges began Oct. 1. Visit healthcare.gov to explore options for your state. Reading the comments under any question relative to the Affordable Care Act on either OverdriveOnline. com, our Facebook page or elsewhere around the Web, it's clear the voices against anything having to do with so-called Obamacare are loud and plentiful. Nearly one in five respondents to the above poll expressed the point of view of many of those in opposition: They'd rather pay the penalty for not having insurance than participate in a system they oppose for a variety of reasons. The first year of the penalty's assessment for individuals is 2014, assessed when income tax is filed in April 2015. A decision to pay the penalty rather than carry an approved plan also may represent a sound business decision for those who can get by without care. The first-year penalty for a family of four could be as little as $285 and as high as $682, depending on household taxable income. The penalties are set to grow to more than $2,000 in the third year of the mandate. 6% I won't, I get/purchase coverage through my employer or leasing fleet 7% I will purchase through the exchanges with subsidies as applicable 10% Some of those choosing to pay the penalty hold out hope for the program's repeal or defunding. "I don't plan on ever getting insurance," wrote Gary D., commenting on OverdriveOnline.com. "I'll pay the penalty. It will be cheaper. And if nobody signs up for it, I think that is the only way they will get the point that we don't want them controlling every aspect of our lives." The Kaiser Family Foundation analyzed 17 state-run exchanges that released rate info early. In one example, a Denver family of four with a $60,000 household income could expect a monthly premium of $748 for a middle-grade "silver" insurance plan. A $339 tax credit would reduce the premium to $409. Less costly – and less robust – I don't know 40% OverdriveOnline.com poll I won't, I'll pay the penalty/tax I will continue to purchase on the individual market as before 14% The largest group of Overdrive reader respondents to September polling about health insurance was those still unsure about what next year would hold for them. Reader Alphea McCulloch, whose husband is a driver, held a sort of fingers-crossed hope for better insurance at good rates under Obamacare. She got pregnant with her first child while uninsured; complications helped run bills up to about $14,000. The McCullochs now pay $700 a month for insurance, with no maternity coverage. Penalty assessments for individuals Household Penalty Penalty Penalty 2016*** 2015** 2014* Income $2,085 $975 $285 $22,050 $2,085 $975 $285 $33,075 $2,085 $975 $285 $44,100 $2,085 $975 $461 $66,150 $2,085 $1,364 $682 $88,200 *Penalty 2014: Greater of $285 or 1% of income over filing requirement **Penalty 2015: Greater of $975 or 2% of income over filing requirement ***Penalty 2016: Greater of $2,085 or 2.5% of income over filing requirement This table shows individual penalty assessments. To download the ATBS Obamacare-options roundup, search "Obamacare decision upcoming" on OverdriveOnline.com. coverage is also available, including bronze-level packages as well as catastrophic coverage. The latter, however, will be available only to individuals less than 30 years old or whose health premiums would make up more than 8 percent of total income. 4 | Overdrive | October 2013 Voices_1013.indd 4 9/30/13 3:46 PM