When healthcare reform laws are fully implemented in 2016, about 21 million Americans will not have health insurance cover and 4 million of them will be required to pay the penalty for not buying health insurance. These were the projects that were recently released by the non partisan Congressional Budget Office. It also calculated that the penalty will amount to about $4 billion each year from 2017 through 2019.

Thankfully there will be enough high income families earning about $96,000 to pay around two thirds of the fine for not having health insurance. One third of the fine will be paid by families making $24,000 to $96,000.

9% of the four million are expected to their annual income below the poverty line, which is $11,800 for individuals and $ 24,000 for families. This will make up 4% of money collected from the total penalties. 66% of the penalty revenue will come from people who have annual house hold income of more than $96,000 or 400% above the poverty line.

As per the newly passed health care reform bill, most American residents should be having a health insurance cover or they should be paying a fine. The fines are based on income and are capped at 2.5% of annual household income or a flat $695, whichever is higher. Also many of those who are uninsured will not be required to pay fines mostly because they belong to low income households or are unauthorized immigrants.

Chipley Florida
City of Chipley Florida
Zip codes: 32428
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