5.8 Million Uninsured Are Eligible For Cheaper Insurance But May Continue to Opt For Penalty Instead

By Ali Meyer

There are 5.8 million uninsured individuals who could purchase an Obamacare plan for less than the cost of the penalty for not having health insurance, according to a report from Kaiser Family Foundation.

Obamacare’s individual mandate requires that Americans have health care coverage or pay a penalty to the IRS. Currently the penalty totals 2.5 percent of family income or a flat fee of $695 per adult and $347.50 for each child, up to a total of $2,085 for the family.

The Kaiser report evaluated uninsured non-elderly individuals who can enroll in an Obamacare plan to see how many would be better off financially if they enrolled in a plan rather than paying the penalty.

“While the percent of the population without health coverage has decreased substantially since the major coverage expansion in the ACA, about 10 percent of the population is still uninsured,” the Kaiser report said. “Some of those who remain uninsured are eligible for premium subsidies large enough to cover the entire cost of a bronze plan, which is the minimum level of coverage people can buy to satisfy the individual mandate.”

The report found that next year an estimated 71 percent of the uninsured will have …read more

Source:: Washington Free Beacon