Obamacare health insurance policies cost significantly more than the penalty tax that are imposed on people. The main problem that people have with Obamacare is that it feels as though they do not have a choice. Tax payers are pushed against a wall being forced to pay penalties for not having insurance. They feel obligated in purchasing something they cannot afford just to save themselves from a tax penalty. No matter which way a person goes they are automatically losing money. Some people are healthy and have gone years without seeing a doctor, now they are being forced into paying for a health plan they may hardly use.
The individual mandate was effective since January 1st, 2014. The penalty for not having health insurance is applied to a persons’ year-end federal modified adjusted gross income for each month a person does not have health insurance. The individual mandate is part of the shared responsibly provision. IT is called an individual shared responsibility fee. The fee is if a person does not have health insurance by January 31st , 2014 or obtain an exemption