Thursday, August 26, 2010

What. I will have to pay for Health Care. I thought Obama was going to give it to me for FREE.

Beginning in 2014, U.S. citizens and legal
residents will be required to buy health insurance or pay a penalty. The penalty
will be phased in, beginning at the greater of $93.50 per person or 1 percent
of a person’s applicable household income that is in excess of the applicable
tax filing threshold in 2014 and increasing to the greater of $695 per person
or 2.5 percent of a person’s applicable household income that is in excess of
the applicable tax filing threshold in 2016. For persons under the age of 18,
the penalty is half of the above amount.

Individuals may be exempt from the mandate, for example, if they can’t find
affordable health insurance, as defined by the government, or if their income
does not meet the federal tax-filing threshold. In 2010, the threshold for
taxpayers under age 65 was $9,350 for singles and $18,700 for couples.


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