News Headlines Article

Obamacare Sign-Ups Could Get A Bump As Higher Penalties Kick In
National Public Radio

Tuesday is the last day to choose a health plan under the Affordable Care Act if you want insurance coverage to begin by Jan. 1. And officials who have spent the last two years using the carrot of persuasion to get people to buy insurance through the state or federal exchanges say the time has come for the stick.

That stick is a hefty fine.

Penalties for failing to buy insurance will roughly double. A family of four that makes $250,000 a year could face a fine when tax time rolls around in 2017 that approaches $10,000 if they don’t get coverage for 2016.