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Obamacare insurance-less penalty
Posted: Thu Nov 28, 2013 9:39 pm
by edsanville
Does anyone know how the government plans to charge the penalty for not having government-approved health insurance next year? Is it part of our tax return? Will it be a month-by month thing, or an all-or-nothing deadline for the year? In other words, if we don't have approved health insurance on January 1, will we suddenly owe the government the full penalty, or will it go on a month-by-month basis, where we only pay half the penalty if we have approved insurance for half the year?
Re: Obamacare insurance-less penalty
Posted: Thu Nov 28, 2013 11:25 pm
by RuralEngineer
It's taken from your tax refund. So lump sum and start of the next year.
Simonjester wrote:
you have to get the penalty to find out whats in the penalty
Re: Obamacare insurance-less penalty
Posted: Fri Nov 29, 2013 4:32 am
by edsanville
RuralEngineer wrote:
It's taken from your tax refund. So lump sum and start of the next year.
OK, thanks, I guess I should rush out and buy some insurance, then. Sigh. I wonder if I can get insurance for January 1, then cancel it immediately, then, since it's not month-by month.
l82start wrote:
you have to get the penalty to find out whats in the penalty
That really does seem to be the philosophy of this law, doesn't it?