Hold On To Your Seat – Obamacare Backlash To Come

Hold On To Your Seat – Obamacare Backlash To Come

As the window for Obamacare registration comes to a close, tax season just begins, and many Americans are going to regrettably just begin to understand how impacting each of these events is for the other. As they complete their tax returns, a significant number of Americans will suffer tax consequences for failing to comply with the Affordable Care Act. The Washington Post recently unveiled numbers that size up the impact – “Up to 6 million Americans are expected to pay a penalty for not having coverage in 2014, according to recent Obama administration projections. The 2014 penalty for this tax season is $95, or 1 percent of family income — purposefully on the weaker side to let people adjust to this new coverage scheme. “

As Americans begin to recover from this rude awakening, they will assuredly be scrambling to figure out how they can mitigate the impact of failure to sign up during the 2015 window. Sadly, many of these same Americans will quickly learn just how expensive insurance can be. What is a taxpayer to do? Hopefully, Congress will be able to persuade the Administration that a new and better plan is just what the doctor ordered.

 

Click here to read the full Washington Post article.

No comments yet.

Leave a Reply