obamacare

Obamacare ACA Maximum 2015 Penalty To Top $12,000 For Higher Income Earners

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For the 2015 tax year, the Obamacare or Affordable Care Act (ACA) shared responsibility is set to double from a maximum $975 per household in 2014 to approximately $12,850 per household. This is based on the percentage of income criteria, versus the flat tax/penalty amount outlined below. To avoid being subject to this penalty individuals […]

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2016 Marketplace Health Insurance Plans & Prices Rising Under Obamacare (Affordable Care Act)

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[2016 updates] 2016 health insurance premiums under the state and federal health care system (Affordable Care Act) are rising. No doubt about that. The question is by how much. Recent reports and have a broad range (from 6% to 15%) as health insurance companies have started submitting requests to the regulator (insurance commissions) for big price increases in […]

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Obamacare Health Insurance Purchase Requirement Extended?

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[Update March 31st 2013] Extension to purchase health coverage may now be in the works. The original deadline to purchase coverage, before incurring penalties was March 31st, 2014. But a number of state exchanges, like Covered California said that, “Individuals who start an online application by 11:59 p.m. on March 31, 2014, will have until 11:59 p.m. on April 15, […]

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Will Obamacare be Delayed?

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[Update] – The Obama administration announced that it will give Americans who buy health insurance through the new online marketplaces an extra six weeks (until March 31st, the end of open enrollment) to obtain coverage before they incur a penalty. With all the news around the glitches plaguing the Obamacare website – healthcare.gov – and its […]

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Health Care Premium Tax Credit (PTC) To Lower Monthly Health Insurance Premiums in 2015-2016

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[Updated for 2016] Under new health care laws (a.k.a Obamacare) a new tax credit has been made available to millions of Americans who purchase insurance via the new health insurance exchanges or marketplaces. The so called Premium Tax Credit (PTC) credit allows you offset the monthly premium costs of health care if your income is below certain […]

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2014 Obama Health Care Reform Changes – Mandatory Coverage Penalties, Health Care Exchanges, Tax Credits and Subsidies

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President Obama’s signature health care legislation, the Affordable Care Act, is very much in place now and in the next few months a number of Americans are going to see a lot more of the regulations and laws come into place. This includes: Penalties for No Health Insurance. Beginning in 2014, uninsured individuals must buy […]

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2016 vs. 2017 Tax Penalty Amounts and Exemptions For Not Having Health Insurance Under ObamaCare

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President Obama’s health care reform plan, also known as ObamaCare or the Affordable Care Act, is the law of the land now which means that all Americans with an income above a certain threshold have to purchase or have health insurance. The provision referred to as the individual mandate is what legally required most US citizens and […]

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Understanding Obama’s Health Care Reform Plan – What’s in it for You and How You Will Be Impacted

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The supreme courts 5-4 ruling in favor of President Obama’s health care plan means that most of the act’s provisions will now go into action. You can find details of these here, but to summarize: Starting in 2013 The legislation for the first time would place a $2,500 limit on what can be contributed to […]

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