• Everyone must have insurance by 2014
“You have a responsibility to contribute your fair share to the pool,” Weber said Thursday.
People who can afford coverage but choose not to purchase any insurance plan will face fines. Those with yearly income below $10,000 are exempt from the penalty.
In 2014, an individual faces a $95 penalty for every adult in the household and half that for every child. In 2015, the fee goes up to $325 per adult and in 2016 the penalty raises to $695.
“We are trying to get people in the habit of buying insurance,” Weber said.
Visit the Kaiser Family Foundation at www.KFF.org for in depth ACA analysis and important information.
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