Obamacare becomes the law of the land in 2014 and under it all Americans must have healthcare coverage or face a fine courtesy of the federal government.
Those without healthcare coverage through their employers are likely to find themselves searching for coverage on new online marketplaces that are being established. Information about the rates people will pay through the marketplaces is starting to come out. The good news is Tampa Bay residents who need to buy their own insurance under the Affordable Health Care Act will pay less than those living in other parts of the state.
The bad news, however, is that those rates might compare to a car payment for some and a rent payment for families before tax credits are counted, The Tampa Tribune reports. Once the credits are added in, families of four will pay roughly $282 a month for coverage.
The penalty for not having coverage in the first year is $95 or 1 percent of a household’s income. The cost for not complying with the mandate to have coverage rises to $695 a person or 2.5 percent of a family’s income in 2016, according to The Hill.
Check out The Tribune’s full story here.
What do you think? Are the rates for Tampa Bay fair? Are you planning to get coverage if you don’t have it or will you just pay the fine?