The new healthcare reform or Affordable Care Act (ACA) was passed by Congress and signed into law in 2010. The primary regulations are effective January 1, 2014, some are already into place and it has impacted your insurance coverage.
The penalty will change every year. Starting 2014 the penalty is either $95.00 per adult and $47.50 per child in your household up to a maximum of $285.00 or 1% of your household income whichever penalty is larger. In 2015 the penalty increases to $325.00 per adult or 2% of household income and in 2016 increases to $695.00 per adult or 2.5%.
If you can not get insurance through your employer or if your employer does not offer qualifying insurance you can buy it through the Idaho Health Insurance Exchange: www.yourhealthidaho.org or through an insurance company, call your health insurance agent: Olivia Castanos at 208-375-7774 to learn more.
Beginning October 1, 2013 you will be able to compare plans, get answer to your questions and buy insurance through the exchange, is designed to make buying health insurance easier. Go to yourhealthidaho.org to learn more.
Individuals, families and small business (50 ee’s or less) can buy insurance through the exchange, your health insurance agent or directly from insurance companies. However you will only be able to qualify for subsidies through the Exchange.