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You Might Pay A Lot More Than $95 For Skipping Health Insurance
NPR ^ | 03/12/2014 | Julie Rovner

Posted on 03/12/2014 3:11:03 PM PDT by SeekAndFind

2014 is the first year most Americans will have to either have health insurance or face a tax penalty.

But most people who are aware of the penalty think it's pretty small, at least for this first year. And that could turn into an expensive mistake.

"I'd say the vast majority of people I've dealt with really believe that the penalty is only $95, if they know about it at all," says Brian Haile, senior vice president for health policy at Jackson Hewitt Tax Service. "And when people find out, they're stunned. It's much, much higher than they would expect."

In fact, "the penalty is the maximum of either $95 or 1 percent of taxable income in 2014," according to Linda Blumberg, a senior fellow at the Urban Institute's Health Policy Center. "For people with higher incomes, it can be much more sizable than $95."

Blumberg says that even for people with more moderate incomes, it's important to remember that the flat-fee penalty will be assessed for every family member who lacks health coverage.

"So if it's a two-adult household and both are uninsured, it's twice $95 — $190," he says. "Then if there are any children in the family that are uninsured, the penalty for each of them is half of the $95."

The flat-fee penalty maxes out at $285 next year. To help people figure out what they might owe, the Tax Policy Center, jointly run by the Urban Institute and the Brookings Institution, just posted an online calculator. And Jackson Hewitt has its own "How much is my tax penalty?" worksheet.

Haile says it's important to remember that even if most of the family has insurance, having just one uninsured member can trigger the penalty.

(Excerpt) Read more at npr.org ...


TOPICS: Culture/Society; Government; News/Current Events
KEYWORDS: 0carenightmare; individualmandate; obamacare; obamacarepenalty; obamacaretax; penalty; tax

1 posted on 03/12/2014 3:11:04 PM PDT by SeekAndFind
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To: SeekAndFind

And if you have nothing, say you’re a chrity case supported by your family, your family must pay the penalty!


2 posted on 03/12/2014 3:13:11 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: SeekAndFind

I’ll pay nothing. It’s time for gobs of testicular fortitude. This is all a bluff, just like Connecticut. They don’t have the manpower, the will or the jail cells.


3 posted on 03/12/2014 3:13:11 PM PDT by 2ndDivisionVet (I will raise $2M for Sarah Palin's next run, what will you do?)
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To: SeekAndFind

I think the article is not comprehending this.

Looks like pretty much everybody can skate on the mandate now.

http://online.wsj.com/news/articles/SB10001424052702304250204579433312607325596?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304250204579433312607325596.html


4 posted on 03/12/2014 3:13:43 PM PDT by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: SeekAndFind

But I thought the Emperor changed that too... putting off the tax penalty for the individual mandate until after 2016>>>???


5 posted on 03/12/2014 3:15:21 PM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: SeekAndFind

Will this lead the sheep to shed their wool and finally stand up to the tyrrany? I hope so, but I doubt it.


6 posted on 03/12/2014 3:15:34 PM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: SeekAndFind

Of course it is only subtracted from their already high EIC and other bennies that they get so why would they care. Those of us that have insurance and have to write a check every year it won’t matter.


7 posted on 03/12/2014 3:16:09 PM PDT by napscoordinator ( Santorum-Bachmann 2016 for the future of the country!)
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To: mrsmith
i. Liability for dependents Under section 5000A(b)(3)(A), if an individual with respect to whom the shared responsibility payment is imposed for a month is another individual's dependent (as defined in section 152) for the taxable year including that month, the other individual is liable for the shared responsibility payment for the dependent. The proposed regulations clarify that a taxpayer is liable for the shared responsibility payment imposed with respect to any individual for a month in a taxable year for which the taxpayer may claim a personal exemption deduction for the individual (that is, the dependent) for that taxable year. Whether the taxpayer actually claims the individual as a dependent for the taxable year does not affect the taxpayer's liability for the shared responsibility payment for the individual."
8 posted on 03/12/2014 3:22:22 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: SeekAndFind

It’s not a penalty, it’s a tax. Oh wait, it’s not a tax it’s a Shared Responsibility Fee.


9 posted on 03/12/2014 3:23:08 PM PDT by Eagles6 (Valley Forge Redux)
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To: SeekAndFind

Remember, existing law means nothing to these liars.
Expect anything — they legislate from the Oval Office.


10 posted on 03/12/2014 3:23:44 PM PDT by EagleUSA
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To: All

11 posted on 03/12/2014 3:23:45 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: SeekAndFind

Too bad half the American public still has its head up its anal exit aperture, or they would be really upset and demand a change.


12 posted on 03/12/2014 3:42:07 PM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: I want the USA back

Nearly 70% don’t like the law. The RINOs and DEMs get the blame.


13 posted on 03/12/2014 3:54:10 PM PDT by VRWC For Truth (Roberts has perverted the Constitution)
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To: SeekAndFind

Good luck collecting those penalties. If you are not getting a tax refund there’s not much they can do.


14 posted on 03/12/2014 4:44:10 PM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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To: SeekAndFind

15 posted on 03/12/2014 4:44:38 PM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: SeekAndFind

all you got to do is fill out a form.....zap, no mandate, no penalty


16 posted on 03/12/2014 4:45:51 PM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: nascarnation

If you are willing to sign a form “under penalty of Perjury,” yes.


17 posted on 03/12/2014 5:05:22 PM PDT by Cyber Liberty (H.L. Mencken: "The urge to save humanity is almost always a false front for the urge to rule.")
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To: 2ndDivisionVet

just make sure you aren’t getting a tax refund, they will take it out of there.


18 posted on 03/12/2014 5:08:56 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: SeekAndFind

PT Barnum was a prophet.


19 posted on 03/12/2014 5:56:20 PM PDT by VRW Conspirator ( 2+2 = V)
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To: nascarnation

thanks for the link!


20 posted on 03/12/2014 6:07:06 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman

Obamacare is a legal amoeba.
It morphs weekly (daily?)

You can see why the IRS needed to hire 15,000 accountants and attorneys to administer it.

Could you imagine the MSM sh!tstorm if a Republican rewrote laws on the fly to appease electoral groups?


21 posted on 03/12/2014 6:10:41 PM PDT by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: nascarnation

Bwahahahahahahahahahahahahahahahahahahaaaaaaaaaaaaaaaaaaaa! Good luck to the governmental idiots to somehow straighten-up this cluster**** (as if they wanted to do so,,,this is intentional).


22 posted on 03/12/2014 7:43:12 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: SeekAndFind

Ah yes, Julie Rovner, ‘rat “analyst” if I’m not mistaken - sort of scare tactics we could expect from such - but according to what came out today, all one has to do is submit a paper claiming that signing up for Obamacare is a hardship to be excused from the program sans fine - excuse me - tax - as Bret Bair and Charles Krauthammer both pointed out on Fox tonight, in this case Obamacare becomes its own hardship......


23 posted on 03/12/2014 9:32:19 PM PDT by Intolerant in NJ
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