Tuesday, December 15, 2015

Average Individual Mandate Penalty Could Jump 47 Percent in 2016

Dave Kyllo

A new analysis from the Kaiser Family Foundation finds that the average penalty for uninsured people who are eligible for an Affordable Care Act (ACA) marketplace plan will rise to $969 per household – 47 percent higher than the $661 estimated average for 2015.

The ACA requires most people to have health coverage or pay a tax penalty. The penalty for 2016 is the greater of two amounts: either a flat dollar amount equal to $695 per adult and $347.50 per child with a $2,085 annual family cap; or 2.5 percent of family income in excess of the 2015 tax filing thresholds ($10,300 for a single person and $20,600 for a family). The individual mandate penalties are capped at amounts equal to the national average premium for a bronze plan – the minimum coverage available under the ACA.

For more information about AHCA/NCAL “Member Only” health plan options available through AHCA/NCAL Insurance Solutions, email ahcainsurancesolutions@ahca.org or contact Dave Kyllo (202-898-6312) or Nick Cianci (202-898-2841).

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