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Finding out what’s in it: The Obamacare penalty for not having health insurance is about to triple.
Uninsured Americans who decide not to enroll will face a penalty of $325 per person, more than tripling the $95 penalty those who did not enroll had to pay the first time around. Children under the age of 18 will be fined $162.50. The maximum amount an uninsured family will be penalized is $975 under the flat-rate method. “The penalty is meant to incentivize people to get coverage,” Laura Adams, senior analyst of InsuranceQuotes.com, told CBS News. “This year, I think a lot of people are going to be in for a shock.”
Nor is this the end. According to how the law was written, the penalties will continue to rise in the coming years. Just in time for the next election in fact!
When the law first passed I had said that Obamacare was going to be an election millstone around the necks of Democrats for years, and that is definitely turning out to be true. Expect more Democratic election losses in future elections, unless they change course and join the Republicans in getting this law repealed.