I have been asked why I say you will be charged a fine monthly for not having health insurance (under the new Obama care laws) if you pay yearly.
The reason is the fee is charged for each month you don't have insurance but you only pay it once a year, on your income tax forms.
You have to attach a receipt from your insurance company to your income tax paperwork, just as you do your W-9, and whatever months were not covered or if you do not have one at all, you will be fined and the money will be taken out of your income tax refund. Refer back to the previous post as to what those fines will be.
YOU CAN'T OPT OUT! IT IS NOT ALLOWED! And just because you think you have good insurance, say, like Blue Cross, that does not mean your health coverage will be the same as it has been previously. there are new rules as to what is covered and what is allowed. Don't forget about the life curves and the death panels! According to Obama care those who are first in line for care are between the ages of 15 and 40. There was actually some talk, it might have been shot down, to have anyone under the age of 2 not considered a human being, yup, it's true - look it up, I believe that measure failed here in America.
Obama care is not a way to get insurance to those who can't afford it in the first place, that is a lie, and think about it, if you can't afford the insurance to begin with, how can you afford the fines?
I have been asked about Medicare- I don't know a great deal about that but I do know that Medicare coverage was cut severely and AARP helped push that thru and gained 2.8 billion dollars for their efforts. You can still get Medicare but your coverage will not be as good as it was.