Health Care Reform- Penalties and Subsidies

The Affordable Care Act mandates that everyone, with few exceptions, be enrolled in a medical insurance plan as of January 1,2014. Those who do not enroll will be subject to a penalty, however, one should investigate the possibility of a federal subsidy.

There are those who are not willing to purchase health insurance and pay the penalty . The first year penalty will be $95 or 1% of income, whichever is greater. In subsequent years the penalty will increase.

Federal subsidies will be available based on the number of family dependents and income. Those who fall below the threshold will be eligible for Medi-Cal.

If you are considering  paying the penalty and not enrolling in a medical insurance plan it would be prudent to see if you are eligible for a subsidy thereby lowering your monthly medical insurance premium. You might find the monthly premium more affordable.


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