With less than three weeks until 2015 Obamacare open enrollment begins, insuranceQuotes.com just released a helpful new Obamacare penalty calculator:
http://www.insurancequotes.com/health/obamacare-penalty-calculator
The penalties will be higher next year ($325 per person or 2% of income, whichever is higher). That’s up from $95 per person or 1% of income this year. The free calculator shows Americans how much of a financial penalty they will face if they go without health insurance in 2015.
— The maximum dollar amount a family will pay using the flat rate method will more than triple (from $285 to $975).
— An individual who makes $30,000 per year will have to pay a $400 penalty for going without health insurance in 2015 (up from $200 in 2014).
— And a family of four with an annual household income of $75,000 will have to pay an $1,100 penalty in 2015 (up from $550 in 2014).
Laura Adams (insuranceQuotes.com’s senior analyst) is available to discuss the penalty calculator and the upcoming Obamacare open enrollment season. Please let me know if you’d like to schedule an interview.