cheapest health insurance vs penalty

Discussion in 'Business Operations' started by recycledsole, Jun 6, 2014.

  1. recycledsole

    recycledsole LawnSite Gold Member
    from MD
    Messages: 3,253

    What is the penalty for not having health insurance? Someone told me it was $300 a year, is that right? How much is Obama care?
    thanks so much for any help
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  2. whiffyspark

    whiffyspark LawnSite Fanatic
    Messages: 6,226

    They just approved something like 23 million to fix the md portal site.
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  3. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Messages: 4,631

    37,000 and under its fixed at 95 dollars this year then 300 the next and 695 from then on. Over 37,000 in income its 1% this year 2% next year and 2.5% from then on.

    Course you could do what I did and be exempt from it all together. But that would require you being able to prove American Indian heritage and having the tribe accept you as a member. Luckily for me and my family they did and were just waiting on the id cards, my uncle and his kids already received theirs.
  4. whiffyspark

    whiffyspark LawnSite Fanatic
    Messages: 6,226

    That's lousy. Mom said people are having lots of issue getting the companies to pay for treatments now.

    I hate how big brother is making us show "income" to get credit mortage etc. But in reality it's for stuff like this.

    Is rather just pay my self a salary of $1 a year. Lol
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  5. TPendagast

    TPendagast LawnSite Fanatic
    Messages: 9,687

    so to answer the question, no not really, it is NOT cheaper to get obama care unless, your subsidy qualifies you for cheap or free.

    Im most cases you'll pay at least $75 - 100 a month.
    So that can be as much as 1200 bucks a year,

    and the 1st year penalty isn't going to be 1200 bucks.

    it works out differently for everyone just like taxes would.
    so there is no answer any of us can give to you.

    But in general no… its not worth it (unless of course you need healthcare!)
    Im planning on paying the penalty.

    I don't buy new trucks or machines the first year they come out with a new model… they will either work the bugs out of this thing, or repeal it, Im pretty sure.
  6. RoyalTree

    RoyalTree LawnSite Member
    Messages: 158

    So you guys are going through all this trouble to not have insurance?

    I guess life has yet to deal you a life altering blow...
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  7. Fvstringpicker

    Fvstringpicker LawnSite Fanatic
    Messages: 7,643

    What's not being considered in this "cost of insurance v cost of penalty" debate is if you don't have medical insurance you not only pay the penalty but also all your medical cost. ( unless you figure just going the indigent care route at the ER. Its always amusing to me to see the same people complain about "government health care" that have used and plan on continuing to use ER services with no intention of paying )
  8. recycledsole

    recycledsole LawnSite Gold Member
    from MD
    Messages: 3,253

    So the first year penalty is $95?
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  9. recycledsole

    recycledsole LawnSite Gold Member
    from MD
    Messages: 3,253

    I almost killed my self with a chain saw last year. I paid the $1900 er bill and lost $5k of work. Of that happens right now, the insurance i have isn't going to cover it, nor all the income i lost.
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  10. Charles

    Charles Moderator Staff Member
    Messages: 8,494

    I would rather pay $1900 with a high deductible and less of a monthly premium. I am not a sickly type and don't take many risk, so a higher deductible works for me. Who knows, I could have a heart attack or a stroke any second. I rarely go to the Doctor. With the 1000s of diseases out there you just never know.
    People just need to cut back on things that can increase your chances of getting a major illness ie smoking, abusing alcohol and eating high fat, greasy foods. I know, easier said than done!:laugh:
    I would rather pay for Insurance than pay the government for nothing in return. Young or old, you can contract any one of the 1000s of diseases out there. You can get injured in a auto accident or on the job etc. Of course the older you get the higher at risk you are. Still, young people get really sick too and injured. You just don't hear about their problems most of the time

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