Do I Have to Have ACA Compliant Insurance
It can be something of a hinderance for your retirement plans if the IRS suddenly comes up with a reason to harass you. For many people, this communication was due to their health insurance status. In the beginning, before the system had undermined the good faith nature of the first draft of the ACA, the penalty was simply $50. Now, the penalties have been increased to a level where it hurts, where the fine was equal if not more than an annual health insurance premium schedule, based on the government’s reckoning. Do I have to have ACA compliant insurance? Well, that’s kind of the point of the law. You are being coerced into buying a private, for-profit instrument designed to reduce your personal wealth and transfer it to the wealthy.
Do I Have to Have ACA Compliant Insurance?
So, do I have to have ACA compliant insurance? Though it certainly wouldn’t hurt down the line, but currently, there is no active penalty for not having insurance coverage, compliant or not. This means that you would not be facing any criminal charges for not complying with the law as it is written. However, with the political season heating up, we might well see a reinstatement of the old penalty clauses, meaning you could be liable for back fines if found guilty.
Qualifying Health Coverage
Qualifying health coverage means having enough to adequately cover yourself and your family. The exact details are a little vague, but as long as you buy from a reputable agent, you should be fine.
Minimum Essential Coverage Calculator
If you are doubt of the level of required health insurance coverage you need, simply go online and use a minimum essential coverage calculator, inputting your policy information, to determine if you are in compliance.
Affordable Health Insurance
So, do I have to have ACA compliant insurance? In the eyes of the law, yes, you do. That is the point of making it a law. However, the penalty has been removed, at least temporarily, so the motivation has waned slightly from those who are un-insured or under-insured. However, the government has pretty much kept this non-penalty a secret, hoping to continue to scare consumers into buying insurance coverage when they aren’t being penalized if they don’t. Affordable health insurance is important, but not at the expense of our civil liberties.
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